A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
1XRTT: A phase 1 implementation of the 3G standard CDMA2000; phase 2 will be referred to as 3XRTT.
3G: Third generation wireless format, that allows for higher data transmission rates for mobile devices such as cell phones and PDAs.
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Accrued Interest: Interest due from last coupon date to present on an interest bearing security. Buyer of security pays the quoted price plus accrued interest.
ADR: American Depositary Receipt. A tool for allowing American investors to buy shares of foreign-based corporations in the U.S. rather than in overseas markets. ADRs are receipts for the shares of a foreign-based corporation held in the vault of a U.S. bank which entitles the shareholders to all dividends and capital gains. ADS (American Depository Share - a term often used interchangeably with ADR) is the share representing the underlying ordinary share which trades in the issuer's home market. Technically, ADS is the instrument which actually trades, while ADR is the certificate that represents a number of ADSs.
Advance-Decline (A/D) Line: is a measurement of market breadth. It is calculated by subtracting the number of stocks that decline in price over a given period (weekly or daily) from the number that advance, and accumulating the differences. When advancing issues outnumber declining issues, the A/D line moves upward. Conversely, if the majority of issues fall in price the line trends downward. The basic calculation should be adjusted slightly to facilitate historical comparability. Each week (assuming a weekly A/D line) divide the difference of advances minus declines by the total number of issues changing in price. For example, if there were 6000 advancers and 4000 decliners the ratio would be (6000-4000)/10,000, or 0.20. Then accumulate the weekly ratio readings. Without this adjustment the A/D line exhibits a bullish bias given the long-term increase in the number of issues traded. When this adjusted A/D line is in a uptrend, the odds are that stocks are in a bull market. If the adjusted A/D line is falling, the likelihood of a major downtrend increases. The A/D line is in an established uptrend when the current weekly figure is above the average A/D line reading of the last 52-weeks. A downtrend is established when the current A/D line reading is below the average A/D line reading of the last 52-wks.
Agencies: Federal agency securities, i.e. FNMA, GNMA.
Amortization: An accounting method that allows a company to write-off intangible rights or assets over the period of their existence.
Annual Report: A firm's annual statement of operating and financial results. It contains an income statement, a balance sheet, a statement of changes in financial position, an auditor's report and a summary of operations.
Arbitrage: The simultaneous purchase and sale of substantially identical assets in order to profit from a price difference between the two assets.
ASIC: Application Specific Integrated Circuit. A chip that is custom designed for a specific application rather than a general-purpose chip such as a microprocessor.
ASP: Application Service Provider, or Average Selling Price.
ATM: Asynchronous Transfer Mode. A data-link layer protocol allowing integration of voice and data with the ability to provide quality-of-service guarantees.
Auto Sales: See release details.
Averaging Down: Buying shares of the same security at successively lower prices in order to reduce the average purchasing price.
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Balance Sheet: The summary of a company's assets, liabilities, and shareholders' equity. Since balance sheets do not list items at their current monetary value, they may overstate or understate the real value of certain corporate assets and liabilities. Also called the statement of financial condition.
Bankers' Acceptance (BA): A bill of exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill.
Basis: The spread between a bond futures price and the cash price of a bond deliverable to the bond futures contract.
Basis Point: One one-hundredth of one percent (1/100 of 1%).
BBK: Bundesbank - the German central bank.
Bear Market: An extended period of general price declines in an individual security or other asset.
Beige Book: A Federal Reserve report on economic conditions released roughly two weeks prior to each FOMC meeting. The report is compiled by the 12 Fed district banks based primarily on anecdotal information. The Fed does not place much emphasis on the Beige Book when making policy decisions; more emphasis is placed on the Blue and Green Books, which are only made available to FOMC members.
Big Board: The New York Stock Exchange.
Bill Pass (or Sale): An outright sale of Treasury Bills by the Federal Reserve to primary dealers. Such an action is used during periods of excess liquidity in the banking system, and allows the Fed to drain reserves from the system.
Block Trade: A trade of 10,000 shares or more.
Blue Chip Stocks: Nationally known companies which usually have large-capitalizations and long records of profitable growth and dividend payments. Examples include General Motors, 3M, Coca Cola, and IBM. Blue chip stocks are generally considered less risky than small-cap companies but have less potential for large short-term gains.
Blue Sky Laws: State regulations covering the offering and sale of securities within state boundaries.
BOC: The Bank of Canada - the Canadian. central bank.
BOE: The Bank of England - the U.K. central bank.
BOJ: The Bank of Japan - the Japanese central bank.
Bond Equivalent Yield: Annual yield on a short term, non-interest bearing security calculated so as to be comparable to yields of interest-bearing securities.
Book-to-Bill Ratio: A measure of sales trends particularly watched in the semiconductor industry. A number over 1.0 indicates an expanding market, while a number below 1.0 indicates a contracting market. A ratio of 1.10 means that for every $100 of products shipped, $110 of new orders was received. However, as with every ratio, it is important to look at the underlying numbers for trends which a ratio might conceal.
Book Value: Book Value is often used as an indicator for selecting undervalued stocks. It is also used to determine the ultimate value of securities in a liquidation. Book value is calculated by the following: Total assets minus intangible assets (goodwill, patents etc) minus any long-term liabilities EQUALS total net assets. This figure, divided by the number of shares of preferred and/or common stock, gives the Net Asset Value - or Book Value - per share of preferred or common stock.
bp: Short for basis point, or 1/100 of a percentage point.
bps: Bits Per Second. The measurement of the speed of data transfer in a communications system.
Breadth of the Market: The percentage of stocks participating in a particular market move. If two thirds of the stocks listed on an exchange rise during a given trading day, it is generally considered good breadth. Analysts look to this as an indicator that the trend is probably more significant and longer-lasting than one with limited breadth.
Breakout: The advance of a stock price above a resistance level, or the fall of a stock price below a support level. If a stock experiences a breakout on heavy volume, it indicates to market technicians that the stock is about to engage in a major price move in the direction of the breakout.
Budget, Monthly Treasury Statement: See release details.
Bull Market: An extended period of generally rising prices in an individual item (a stock), group of items (an industry group), or the market as a whole.
Bunds: German Treasuries.
Business Inventories: See release details.
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Cable: Slang for the British pound/U.S. dollar exchange rate.
CAGR: Compound Annual Growth Rate.
Call Option: An option that permits the owner (option holder) to purchase a specific asset at a predetermined price until a certain date.
Callable Bond: A bond which the issuer may redeem prior to maturity by paying a stated call price.
Capacity Utilization: See release details.
Capitalization: A term usually referring to Market Capitalization which is the value of a company as determined by the most recent stock price multiplied by the number of shares outstanding.
Carry: The interest cost of financing securities in one's possession.
Cash Management Bill: A bill issued occasionally by the Treasury to cover cash needs over a specific, typically brief, time frame.
Cash Flow: Cash flow is an important aspect of a company's performance. It is an analysis of all the changes affecting cash in the categories of operations, investments, and financing. A positive cash flow means that more cash is taken in than is paid out, and the opposite is a negative cash flow. A company might be forced into bankruptcy, even with assets well in excess of liabilities, if it does not have enough cash to meet current obligations.
Cash Market: In the Treasury market, this term refers to trading in Treasuries for immediate delivery, as opposed to the futures market, where securities are traded for future delivery.
CBOE: Chicago Board Options Exchange.
CBT: Chicago Board of Trade.
CDMA: Code Division Multiple Access. A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM (QCOM) that operates in the 800MHz band and 1.9GHz PCS band. wCDMA: Wideband CDMA: a 3G implementation of CDMA. CDMA2000: a 3G implementation which competes with wCDMA and which is favored by QUALCOMM.
CEA: Council of Economic Advisors - a three person panel appointed by the president.
Certificate of Deposit (CD): A time deposit with a specific maturity.
CFRA: Center for Financial Research and Analysis. An independent financial research organization that warns investors and creditors about companies experiencing operational problems, or that employ unusual or aggressive accounting practices.
Chicago Purchasing Managers Index (PMI): See release details.
CLEC: Competitive Local Exchange Carrier.
Comm IC: Communications Integrated Circuit. An ASIC made specifically for the telecommunications equipment or networking industries.
Commercial Paper: An unsecured promissory note with a fixed maturity of 270 days or less.
Common Stock: Often called Capital Stock, it is units of ownership in a public corporation which typically entitles the holder to vote on the selection of directors and receive dividends. In the event of a liquidation, claims of secured and unsecured creditors and bond and preferred stock holders take precedence over common stock holders.
Competitive Bid: Bid submitted at a Treasury auction for a specific amount of securities at a specific price.
Construction Spending: See release details.
Consumer Confidence: See release details.
Consumer Credit: See release details.
Cost of Goods Sold: The expenses directly associated with the production of goods or services the company sells (such as material, labor, and overhead) excluding depreciation, depletion, and amortization.
Coupon: The annual rate of interest on a bond's face value that the issuer must pay to the holder of the bond.
Coupon Pass (or Sale): An outright sale of Treasury Coupons (bonds or notes) by the Federal Reserve to primary dealers. Such an action is used during periods of excess liquidity in the banking system, and allows the Fed to drain reserves from the system.
CPI: Consumer Price Index. See release details.
CPI-Indexed Treasury Notes (or TIPS): Treasury issues which protect the investor from inflation as determined by the CPI.
CRM: Customer Relations Management. Enterprise Resource Planning software that either helps a business manage sales leads, or Internet software that helps a business communicate with potential customers via the net.
Current Yield: A measure of an investor's return on a bond calculated by dividing the annual interest on the bond by the market price. It is the actual income rate or the yield to maturity as opposed to the coupon rate (the two would be the same if a bond was purchased at par). For example, a 10% (coupon rate) bond with a face value (par) of $1000 is bought at a market price of $800. The annual income on the bond is $100, but since $800 was paid for the bond, the current yield is $100 divided by $800 or 12 1/2%.
Curve: See Yield Curve.
Curve Trader: Trader who does arbitrage trades along the yield curve.
Read more: http://briefing.com/investor/learning-center/resources/stock-market-glossary/#a#ixzz2aVjLS4yS
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