The Twitter-24/7 Wall St. Market Report (1/21/2011) Bank Of America, GE Report

Twitter  has, by most estimates, 175 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

NYT: DealBook: Bank of America Posts Losshttp://nyti.ms/dVn8rj

Zerohedge: Representatives from China’s CIC will travel to Spain next week to meet with banks inclu. BBVA, La Caixa, discuss investment opportunities

WSJ: Bank of America reported a fourth-quarter loss of $1.2 billion, including a big write-down on mortgageshttp://on.wsj.com/fOcYFB

MSNBC: GE posts better-than-expected earningshttp://on.msnbc.com/eUc1dV

The Economist: Google makes changes at the top, the need for which has been looking increasingly obvious http://ow.ly/3HMXK#economist #google

WSJ: GE’s Earnings Rise 51% as Revenue Increaseshttp://on.wsj.com/eidXXS

Reuters: BofA posts Q4 quarterly loss on writedownhttp://dlvr.it/DngVC

Douglas A. McIntyre