The Twitter-24/7 Wall St. Market Report (10/28/2010)

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.

MarketWatch: Weekly U.S. initial jobless-benefits claims drop by 21,000 to 434,000 http://on.mktw.net/c4yfDg

CNN Money: Number of people filing for initial jobless claims fell by 21,000 to 434,000 in the latest week, government says. $$

CNN Money: Exxon Mobil third-quarter profit surges 55% to $7.35 billion, citing higher crude and natural gas prices. $$

WSJ: Nintendo swings to a loss due to the yen’s strength and weak console sales http://on.wsj.com/dwwfxr

FT: Potash earnings surge amid bid tussle: Higher prices for fertiliser and surge in demand boost earnings as PotashCo… http://bit.ly/9ZUfnw

Reuters Biz: Exxon quarterly profit up 55 pct, tops Street http://dlvr.it/7gMzq

Reuters Biz: JPMorgan, HSBC sued for alleged silver conspiracy http://dlvr.it/7gPXh

Yahoo! Finance: Wells Fargo erred in thousands of foreclosures, promises to fix but won’t halt seizing homes http://yhoo.it/cKlmwK

DailyFinance: Mortgage Lenders May Meet With Foreclosure Task Force Todayhttp://aol.it/cfMFWb

Douglas A. McIntyre