The Twitter-24/7 Wall St. Market Report (10/13/2010) JP Morgan Beats, China Trade

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.

MarketWatch: U.S. reports import prices for September down 0.3% http://on.mktw.net/dogLSb

The Economist: StanChart $5.3bn rights issue; JPMorgan strong Q3; Intel strong Q4 forecast; Fed’s easing remarks lift shares http://ow.ly/2SLK3

CNN Money: JPMorgan Chase reports $4.4 billion profit http://bit.ly/bQT86j

CNN Money: Apple shares top $300 http://bit.ly/aqvgvm

Reuters Biz: JPMorgan profit jumps on lower loan losses http://dlvr.it/6ymwg

Yahoo! Finance: China’s September trade weakens but $16.9B surplus could fuel #currency tensions http://yhoo.it/9H2oMZ

Yahoo! Finance: JPMorgan Chase’s profit jumps 23% in 3Q http://yhoo.it/b1hI2G $JPM $$ #banks

Douglas A. McIntyre