The Twitter-24/7 Wall St. Market Report (3/29/2011) GE M&A, Fed Policy

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

CNBC: GE Energy buys Converteam for $3.2B. http://bit.ly/edUWsG

MarketWatch: General Electric to buy 90% of electrification-services firm Converteam for $3.2 billion http://on.mktw.net/fhsYEm

Reuters: China bank regulator warns of property bubble riskshttp://dlvr.it/LpLGp

Bloomberg: Fed’s #Bullard Says #QE2 Exit Debate Likely ‘Key’ 2011 Issue – http://ow.ly/4owxp

Reuters: Fed may start tightening before global risks fixed: Bullard http://dlvr.it/Lp5cp

Reuters: BP shares hit by downgrade, manslaughter reporthttp://dlvr.it/LnvK1

Douglas A. McIntyre