The Twitter-24/7 Wall St. Market Report (2/24/2011) GM Profit, Initial Job Claims

By Douglas A. McIntyre Published Feb 24, 9:03AM EST

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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

USAToday: GM reports first annual profit since 2004 http://usat.ly/

Yahoo! Finance: Fewer people requested unemployment aid last week; monthly average falls to lowest since 2008http://yhoo.it/f2Hz2x 6 minutes ago via bitly

Bloomberg: Orders for Durable Goods in U.S. Increase on Surge in Demand for Aircraft – http://ow.ly/42zla

Bloomberg: U.S. Initial #Jobless Claims Fell More Than Estimated to 391,000 Last Week – http://ow.ly/42zhO

Zerohedge: Initial Claims Drop 22K To 391K, On Expectations Of 405K, Durable Goods Collapse http://is.gd/QLBUTZ 19 minutes ago via TweetDeck

MSNBC: Durable goods orders rose in Januaryhttp://on.msnbc.com/gSFwII 21 minutes ago via msnbc.com feeds

MSNBC: Jobless claims drop more than expectedhttp://on.msnbc.com/gj282s 21 minutes ago via msnbc.com feeds

CNN Money: Number of people filing for initial jobless benefits fell 22,000 to 391,000 in the latest week, government says. $$25 minutes ago via CNNMoney.com

CNNMoney: General Motors: First profit since 2004http://bit.ly/e4nYHw 29 minutes ago via twitterfeed

Douglas A. McIntyre

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.