The Twitter-24/7 Wall St. Market Report 1.31.2011 Exxon Earnings, Consumer Spending

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.

Yahoo! Finance: Commerce Dept: Consumer spending rises sharply in December, posts best annual gain since 2007http://yhoo.it/fNygO9 #economy

Reuters Biz: Consumer spending rises 0.7 percent in December http://dlvr.it/FTX6R

WSJ: Apple’s Tablet Lead Declineshttp://on.wsj.com/hsQW6x

MarketWatch: U.S. consumer spending up stronger-than-forecast 0.7% in December http://on.mktw.net/hWcAxA

Yahoo! Finance: Exxon profit up 53%, 4Q net income jumps to $9.25B, best quarter since 3Q ’08 http://yhoo.it/i3Blck $XOM

Reuters Biz: Exxon quarterly profit rises 53 percenthttp://dlvr.it/FTTLn

CNNMoney: Exxon Mobil posts 53% jump in profithttp://bit.ly/gp1Y70

Douglas A. McIntyre