The Twitter-24/7 Wall St. Market Report (12/14/2010) Retail, Producer Prices, Best Buy

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: Retail sales rise 0.8% in November on strength in gasoline prices and clothing sales, the government says. $$

CNN Money: Obama’s mortgage mod plan is still lacking http://bit.ly/ehmnHX

MarketWatch: U.S. producer prices post their largest gain since Marchhttp://on.mktw.net/ekrjBu

MarketWatch: U.S. retail sales rise 0.8% in November, marking fifth straight monthly increase http://on.mktw.net/hlry14

MarketWatch: Best Buy’s shares skid 10% as quarterly sales come in shy of forecast and net profit slips http://on.mktw.net/gcnSzh

Reuters Biz: Retail sales up more than expected in Novemberhttp://dlvr.it/BMj1b

FT: Yahoo to cut workforce by 5 per cent: Yahoo is on the verge of cutting 600-650 jobs, in the latest attempt by ch…http://bit.ly/gyvlkT

Yahoo! Finance: The Commerce Department said on Tuesday total retail sales increased 0.8% advancing for a fifth straight month http://yhoo.it/gikDfg

Douglas A. McIntyre