The Twitter-24/7 Wall St Market Report (5/18/2011) Strauss-Kahn, Oaktree Capital IPO

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.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.

Bloomberg: Target ‘s first-quarter profit rises 2.7% | http://bloom.bg/mJUbKc

Reuters: Staples profit misses estimates http://reut.rs/j94I74

FT: BP offers fresh proposals to Rosneft: Russian state oil champion opens door to fresh talks on developing the … http://on.ft.com/iviB5p

Reuters: Staples misses earnings forecast by 4 cents a share, cuts outlook http://on.mktw.net/m1cugM

Reuters: Takeda to reveal purchase of Nycomed Wednesday http://reut.rs/kIIz5l

BBC: Sony CEO says firm acted quickly http://bbc.in/l8MZSP

NYT: DealBook: Oaktree Capital Plans Initial Public Offering http://nyti.ms/jqaKi2

BBC: Japan carmakers to lose out in US http://bbc.in/l3RpK3

BBC: Strauss-Kahn ‘should not run’ IMF http://bbc.in/mgrp8a

Douglas A. McIntyre