The Twitter-24/7 Wall St. Market Report (7/29/2010)--Exxon Earnings, Kindle Price Cut

Twitter has, by most estimates, 100 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 tweet are a sign of which companies the Twitter universe is interested in. These financial sites are followed by a combined 625,000 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.

MarketWatch: Exxon Mobil nearly doubles second-quarter net; revenue hits $92.5 billion on higher output http://on.mktw.net/araOgP

CNN Money: Exxon Mobil profit soars 85% year-over-year in the second quarter to $7.56 billion; revenue rises to $92.5 billion. $$

FT: Amazon rolls out new e-reader: Amazon is aiming to take digital reading into the mainstream as it rolls out a new … http://bit.ly/aXjVDa

WSJ: Amazon will start selling a WiFi-only Kindle for $139 tomorrow in a bid to go “mass market” http://on.wsj.com/cxtznM

WSJ: Apple is investigating complaints that its latest mobile operating system causes problems on the iPhone 3G http://on.wsj.com/acobs8

Yahoo! Finance: #Report: Most large US metro areas saw spike in foreclosure warnings between January-June http://yhoo.it/bwIdkO

Yahoo! Finance: Amazon CEO hopes new #Kindles, including a model costing $139, stoke desire for its e-readers http://yhoo.it/9mfviD $$

DailyFinance: RealtyTrac: Foreclosure Activity Up in 75% of Metropolitan Areas http://bit.ly/b3SNhp

DailyFinance: Amazon Introduces New ‘Mass-Market’ Kindle at $139 http://bit.ly/aBILwF

Douglas A. McIntyre