The Twitter-24/7 Wall St. Market Report (7/25/2011) RIM Layoffs, US Debt

Investing

Published: July 25, 2011 8:47 am

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.

MSNBC: Blackberry maker to cut about 2,000 jobs http://on.msnbc.com/oJD4Yn

Reuters: Analysis: Investors face U.S. default risk with no Plan B http://reut.rs/pOI253

NYT: Blackberry Maker to Cut 2,000 Jobs http://nyti.ms/pwJcBL

Yahoo! Finance: Geithner: ‘We’re almost out of runway’ on the debt ceiling http://yhoo.it/pCvxAc

BBC: RIM to cut 2,000 jobs in shake-up http://bbc.in/praReq

CNN: BlackBerry maker Research in Motion to cut 2,000 jobs, more than 10% of its workforce, as part of a cost-cutting program.

MarketWatch: Research In Motion to lay off about 2,000 employees, some 10% of global workforce http://on.mktw.net/pXcqN0

Douglas A. McIntyre

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