The Twitter-24/7 Wall St. Market Report (11/5/2010) AIG Loss, Jobs Gain

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.

FT: Toyota threatens to move production over surging yen: Satoshi Ozawa, Toyota’s chief financial officer, said the …http://bit.ly/aHwmhD

CNBC:  Spain, Ireland Bank Shares Hurt on Euro Zone Fearshttp://cnbc.com/id/40024852 $.SX7P #euro #EuropeanUnion #Spain#Irel #CorporateNews

CNBC: Economy Picks Up 151,000 Jobs, Rate Steadies at 9.6%http://cnbc.com/id/40024584 $$ #Economy #EconomicData#Employment #Consumers #Economy

FT: Hands loses EMI case against Citi: The case is estimated to have cost each side tens of millions of dollars in leg… http://bit.ly/90mWD3

Reuters Biz: Fed may let strong banks hike dividends http://dlvr.it/843Vp

Reuters Biz: AIG posts massive loss on sale and goodwill chargeshttp://dlvr.it/842mw

Reuters Biz: BofA fights pressure to buy back mortgages: report http://dlvr.it/83Qlr

Yahoo! Finance: Employers add 151K #jobs; unemployment at 9.6 pct.http://yhoo.it/a77C3u #economy

Yahoo! Finance: BofA and Citigroup testing iPhone for corporate email: reporthttp://yhoo.it/dleazG

MarketWatch: U.S. nonfarm payrolls jump by 151,000 for October; jobless rate steady at 9.6%http://on.mktw.net/cD6wOp

Douglas A. McIntyre