The Twitter-24/7 Wall St. Stock Market Update 4.27 The Wisdom Of Crowds?

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.

CNN Money: Ford profits surge http://bit.ly/aQuG5b

MarketWatch: Dow component 3M raises profit and sales forecast for 2010 http://on.mktw.net/cG1MEC

NYT: Ford Reports Profit of $2.1 Billion in Quarter http://nyti.ms/bmpx5g

NYT: On our radar: Goldman Sachs. Execs testify at Senate hearing. Fabrice Tourre in first group. Blankfein later. http://nyti.ms/b3kfWS

Reuters Biz: Ford posts quarterly profit, raises 2010 outlook http://link.reuters.com/jeb69j

Reuters Biz: Markets pound Greek debt on bailout uncertainty http://link.reuters.com/gyb69j

CNBC: Goldman Sachs Has Lost ‘Momentum:’ Meredith Whitney – http://bit.ly/c8WJEA

FT: Greek bonds plunge again: Worries among investors grow that the country will need to restructure its debts in spit… http://bit.ly/ctP7dh

CNN Money: Apple 2.0: Did Apple call the cops on Gizmodo? http://bit.ly/bOB5YI $AAPL

Douglas A. McIntyre

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