The Twitter-24/7 Wall St. Stock Market Update 4.29 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.

Among the daily top trending  symbols on stock twitter aggregator StockTwits are Palm (NASDAQ: PALM), Baudi (NASDAQ: BIDU), Hewlett-Packard (NYSE: HPQ), SPDR Gold Trust (NYSE: GLD), Green Mountain Coffee Roasters (NASDAQ: GMCR), Ford Motor (NYSE: F), and First Solar (NASDAQ: FSLR).

CNN Money: Oil prices continue gains

CNN Money: Exxon profits up 38%, but miss estimates

CNN Money: Initial claims for unemployment insurance fall for second week in a row, declining to 448,000, Labor Department says. $$

Reuters Biz :Exxon quarterly profit up 38 percent, misses Street

Reuters Biz: Procter & Gamble profit tops its view

Reuters Biz: Motorola posts profit, smartphone sales rise

Reuters Biz: Colgate profit falls due to Venezuela charge

FT: UAL chiefs may make millions in Continental merger: The top five executives at UAL Corp, parent of United Airlines…

MarketWatch: U.S. first-time jobless claims fall by 11,000 to 448,000

MarketWatch: Exxon Mobil first-quarter profit surges 38% to $6.3 bln; shares dip in pre-market trades

Douglas A. McIntyre

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