The Twitter-24/7 Wall St. Market Report (3/7/2011) Gold Record, Barclays CEO Pay

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.

Zerohedge: Gold passes $1,444, another all time high.

NYT: DealBook: Western Digital to Buy Hitachi Unit for $4.3 Billion http://nyti.ms/dDXyVq

WSJ: Barclays CEO Reaps £6.5 Million Bonushttp://on.wsj.com/eKb2ZH

Yahoo! Finance: Western Digital buying Hitachi unit in cash-and-stock deal valued at $4.3 billion http://yhoo.it/ePkhpk

BBC: Greece debt rating cut by Moody’shttp://bbc.in/gZSTET

BBC: Barclays boss to get £6.5m bonushttp://bbc.in/er321E

Douglas A. McIntyre