The Twitter-24/7 Wall St. Market Report (6/10/2011)** Toyota Earnings, Pandora IPO

Twitter  has, by most estimates, 225 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: US Import Price Index (May) M/M 0.2% vs. Exp. -0.7% (Prev. 2.2%). Inverse deflation

CNN Money: Pandora files to sell 14.7 million shares in an initial public offering, at an estimated price of between $10 and $12 a share.

Zerohedge: S&P says France needs further reforms to keep its AAA rating in long term

Bloomberg: Germany digs in on Greek debt extension | http://bloom.bg/jrrXfq

CNN Money: Toyota forecasts it could lose over $1B in profits in current FY due to disruptions from the tsunami & earthquake http://bit.ly/kLigHK $TM

MSNBC: Toyota forecasts profit slide after quake http://on.msnbc.com/kkfZ3G

NYT: Toyota Expects 31 Percent Profit Slump http://nyti.ms/jfoLEp

Yahoo! Finance: Toyota forecasts 35 percent profit slide after quake http://yhoo.it/lWoJ2Z $TM

Douglas A. McIntyre