The Twitter-24/7 Wall St. Market Report (10/21/2010)

Twitter  has, by most estimates, 145 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million Twitter users. It raises the question of whether there is wisdom in crowds.

24/7 Wall St. will look at the Twitter posts at Reuters Biz, WSJ, Financial Times, CNN Money, MarketWatch, CNBC, and 24/7 Wall St. each day to see which stocks are most frequently mentioned. It is clear that in this area of social media these tweets are a sign of which companies the Twitter universe is interested in. Together, these financial sites are followed by nearly 1,000,000 Twitter users, which makes them a sizeable sample of Wall St.’s interests. In some cases, we will publish the actual tweets from the sites.

Zerohedge: Last week’s Initial Claims number which was expected at 445K and came at 462K then, has been revised to 475K

MarketWatch: U.S. weekly jobless-benefits claims fall by 23,000 http://on.mktw.net/bsTjkg

MarketWatch: McDonald’s sales, earnings gains and hiked dividend set to extend stock’s all-time high http://on.mktw.net/diUZAy

MarketWatch: AT&T posts modest growth in revenue, adjusted profit; ‘terrific’ mobile quarter cited http://on.mktw.net/dzIjcc

Reuters Biz: Jobless claims fall 23,000 last weekhttp://dlvr.it/7Ky3t

Reuters Biz: McDonald’s sales and profit top expectations http://dlvr.it/7Ky3s

WSJ: China’s GDP rose 9.6% in Q3, compared with 10.3% in Q2, as the government withdrew stimulus http://on.wsj.com/c0UMp3

Douglas A. McIntyre