The Twitter-24/7 Wall St. Market Report (6/20/2011) PNC Buys Royal Bank Of Canada, Penney CEO

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.

CNNMoney: For Greece: A promise of more money – and pain http://bit.ly/m72GaY #Greece #debt #crisis

USA Today: PNC buys Royal Bank of Canada US banks for $3.45B http://usat.ly/kdMaSX

Yahoo! Finance: PNC buys Royal Bank of Canada US banks for $3.45B http://yhoo.it/mOg0Rk

WSJ: Airbus: A350 Plan ‘Challenging’ http://on.wsj.com/mTR75F

Reuters Biz: Penney CEO Ullman to leave company in 2012 http://reut.rs/iocaku

WSJ: Moody’s Cuts Tepco to Junk http://on.wsj.com/jXhF0b

Douglas A. McIntyre