The Twitter-24/7 Wall St. Stock Market Report 6.22.2010 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 most tweeted stocks on market aggregator Top Stock Tweets are EURUSD, GBPUSD, EURJPY, BP plc (NYSE: BP), Microsoft Corporation (NASDAQ: MSFT), Baidu, Inc (NASDAQ: BIDU), Nokia Corporation (NYSE: NOK), Adobe Systems Incorporate (NASDAQ: ADBE), and Citigroup, Inc (NYSE: C)CNN Money: Dollar rallies as China reaction fades http://bit.ly

FT: Osborne presents ‘unavoidable’ Budget: George Osborne, presenting his first Budget as chancellor, unveiled plans t… http://bit.ly/caGjW9

MarketWatch: U.K. to introduce bank tax based on balance sheet size http://on.mktw.net/cpAtSx

Reuters Biz: Intel and FTC talk settlement of market abuse suit http://link.reuters.com/pyq43m

Reuters Biz: Spyglass seen as likely candidate to run MGM: report http://link.reuters.com/ryc43m

WSJ: White House budget director Peter Orszag will be leaving his post in July. http://wsj.com

FT: Orszag to step down as budget chief: White House Budget director Peter Orszag plans to leave his job in a few week… http://bit.ly

DailyFinance: White House Budget Director Orszag Resigns http://bit.ly/a0eqrY

Yahoo! Finance: There’s Actually a Bear Case for Apple? http://yhoo.it/b8K5eE

Douglas A. McIntyre