The Twitter-24/7 Wall St. Market Report (6/22/2011) Qantas Air Explosion, Fedex Earnings, Tobacco Settlement

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.

Bloomberg: Fed frets over the U.S.’s fiscal recklessness | http://bloom.bg/ikjB7l

MarketWatch: FedEx quarterly profit jumps 33% to $558 million as volumes, yields improve http://on.mktw.net/lGCWis

WSJ: All Nippon to Buy 14 Boeing Dreamliners http://on.wsj.com/ixEDVX

MarketWatch: Adobe shares fall over 3% in premarket trades following disappointing forecast http://on.mktw.net/kOHD0v

Reuters: Mortgage applications declined last week: MBA http://reut.rs/mw6ZID

NYT: Qantas Settles With Rolls-Royce Over Engine Explosion http://nyti.ms/mH5yv8

CNNMoney: Apple 2.0: Bloomberg confirms September release for the next iPhone http://bit.ly/k0owlA $AAPL

Reuters: States close to deal with big tobacco Cos: report http://reut.rs/iqgkqb

CNN Money: About 1 million fewer Americans will travel over the 4th of July weekend, according to a report from AAA. http://bit.ly/mpNsjW

Reuters: Airbus set to unveil record plane order http://reut.rs/iWoZUg

Douglas A. McIntyre