The Twitter-24/7 Wall St. Stock Market Report 6.17.2010 The Wisdom Of Crowds?

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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 most tweeted stocks on market aggregator Top Stock Tweets include EURUSD, GBPUSD, USDCHF, BP p.l.c. (NYSE: BP), Apple Inc. (NASDAQ: AAPL), Xoma Ltd (NASDAQ: XOMA), Google Inc. (NYSE: GOOG), Neurocrine Biosciences, Inc. (NASDAQ: NBIX), Cirrus Logic, Inc (NASDAQ: CRUS), and AOL, Inc. (NYSE: AOL)FT: EU edges towards disclosing bank ‘stress tests’: France joined calls for the release of ‘stress test results’ on t… http://bit.ly/blwcWR

WSJ: Inspector general says MMS is carrying out its investigation of Gulf oil spill in a “completely backwards” manner. http://wsj.com

Daily Finance: BP’s Tony Hayward Is Set to Be ‘Sliced and Diced’ http://bit.ly/9NZwCc

CNN Money: S&P president: credit ratings matter, shouldn’t be mandatory http://bit.ly/9qWgDq

Yahoo! Finance: $BP shares may well rally, and if they do, consider taking advantage of any move up http://yhoo.it/bSMz8F

MarketWatch: #UK financial system gets unwound http://bit.ly/9FUha1

NYT DealBook: BP Shares Rise After Deal on Cleanup Costs http://nyti.ms/czkfoP

Douglas A. McIntyre