The Twitter-24/7 Wall St. Market Report (4/11/2011) JPMorgan Earns, Tyco M&A, Oil $106

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.

FT: JPMorgan profit rises to $5.6bn: JPMorgan Chase reported a 67 per cent jump in first-quarter profit,as better… http://on.ft.com/eK57dr

Zerohedge: Pickens says Saudi Arabia “can’t cover” Libyan oil loss

WSJ: J.P. Morgan Tops Forecasts http://on.wsj.com/fl1RLZ

NYT: JPMorgan Quarterly Profit Rises 67% http://nyti.ms/eTV9f8

WSJ: Tyco Gets Takeover Offer of $30 Billion http://on.wsj.com/hDHP4R

Zerohedge: JPM reports total Trading and Credit portfolio VaR of 83, up 6 from Q4, and up 1Q1 2010

Yahoo Finance: Oil hovers above $106 as traders mull crude demand http://yhoo.it/fLyt8d

Douglas A. McIntyre