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:Fed’s Bernanke says high levels of mortgage distress may persist for some time

CNN Money: Honda recalling nearly half a million carshttp://bit.ly/dsgD4y

WSJ: G-20 finance ministers agree to give more power to fast-growing nations like China, Brazil and Turkey http://on.wsj.com/cdqCEm

MarketWatch: Office Depot CEO Odland resigns; third-quarter sales seen down 4%http://on.mktw.net/9LfEET

Reuters Biz: JP Morgan to launch copper ETP: report http://dlvr.it/7Vnsj

Yahoo! Finance: Geithner meets with China’s vice-premier on economyhttp://yhoo.it/cd1KFB

Yahoo! Finance: FDA rejects Arena Pharma diet drug lorcaserin http://yhoo.it/9fRKUz

Douglas A. McIntyre

 

 

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