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: On Spain’s “Self-Reinforcing” Collapse And Why It Will Get Much Worse Soon http://bit.ly/hIA1z1

Reuters Biz: Madoff trustee sues UBS, others for Ponzi scheme rolehttp://dlvr.it/95WWT

MarketWatch: SAP must pay Oracle $1.3 billion in damages for intellectual-property theft http://on.mktw.net/h2gK3n

Yahoo! Finance: Jury orders Germany’s SAP to pay Oracle $1.3 billion in software copyright infringement casehttp://yhoo.it/hBfXKg

Yahoo! Finance: Ireland’s prime minister says EU-IMF bailout fund could total euro85 billion ($115 billion) http://yhoo.it/fqczVv

Douglas A. McIntyre

 

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