The Twitter-24/7 Wall St Market Report 11/10/2010 Ireland Debt, GM Profit, Jobless Claims

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.

CNN Money: GM: Best quarter in at least 6 years http://bit.ly/c94xsP

CNBC: GM Reports 3Q Adjusted Income of $1.20 a Share, Revenue of $34.1 Billion

Reuters Biz: No let-up for Irish debt; pressure grows http://dlvr.it/8KBtT

Reuters Biz: GM posts $2 billion profit as production picks up http://dlvr.it/8KBt1

MarketWatch: First-time U.S. jobless claims fall by 24,000, weekly data showhttp://on.mktw.net/cF1taj

MarketWatch: General Motors expects to turn 2010 profit; North American division again in the black http://on.mktw.net/cZK472

Douglas A. McIntyre