- Earnings Per Share
- The portion of a company’s profits allocated to each outstanding share of common stock. This figure is calculated after paying taxes and after paying preferred shareholders and bondholders.
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- EDGAR
- The Securities and Exchange Commission uses Electronic Data Gathering and Retrieval to transmit company documents such as 10-Ks, 10Qs, quarterly reports, and other SEC filings, to investors.
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- Efficient Capital Market
- A market in which new information is very quickly reflected accurately in share prices.
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- Emerging Market
- The financial markets of developing economies.
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- Employee Retirement Income Securities Act (ERISA)
- A 1974 law governing the operation of most private pension and benefit plans. This law eased pension eligibility rules, set up the Pension Benefit Guaranty Corporation, and established guidelines for the management of pension funds.
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- Employee Stock Fund
- A firm sponsored program that enables employees to purchase shares of the firm’s common stock on a preferential basis.
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- Employee Stock Ownership Plan (ESOP)
- A Company makes a tax-deductible contribution to a trust fund that buys company stock or ADRs on behalf of their employees, which increases the employees’ ownership of their shares.
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- Employee Stock Purchase Plan
- Participating employees purchase company stock or ADRs with post-tax income using either payroll deductions or lump-sum payments.
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- Equity
- Represents ownership interest in a firm. Also, the value of the common stockholders’ equity in a company as listed on the balance sheet.
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- Euroclear/Clearstream Bridge
- An electronic trading and settlement link between the two depositories
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- Euroclear
- One of two principal clearing systems in the Eurobond market. An international clearing organization, which began operations in 1968, and is located in Brussels. The Euroclear system is responsible for holding (custody), clearing and settling internationally traded securities. The system is owned by about 2,000 users.
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- Exchange
- The marketplace in which shares, options, and futures on stocks, bonds, commodities and indices are traded. The principal US stock exchanges are New York Stock Exchange (NYSE), American Stock Exchange (AMEX) and the National Association of Securities Dealers Automatic Quotation System (NASDAQ).
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- The Exchange
- A nickname for the New York Stock Exchange. Also known as the Big Board. More than 2,000 common and preferred stocks are traded. The exchange is the oldest in the United States, founded in 1792, and the largest. It is located on Wall Street in New York City.
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- Exchange Agent
- The Bank providing the agency service of accepting presentations from investors of one security in the market in exchange for a different security.
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- Exchange Controls
- Governmental restrictions on the purchase of foreign currencies by domestic citizens or the purchase of the local domestic currency by foreigners.
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- Exchange of Assets
- Acquisition of another company by purchase of its assets in exchange for cash or stock.
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- Exchange of Stock
- Acquisition of another company by purchase of its stock in exchange for cash or shares.
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- Exchange Offer
- An offer by the firm to give one security, such as a bond or preferred stock, in exchange for another security, such as shares of common stock.
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- Exchange Rate
- The price of one country’s currency expressed in another country’s currency.
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- Ex-Dividend
- This literally means “without dividend.” The buyer of shares when they are quoted ex-dividend is not entitled to receive a declared dividend. It is the interval between the announcement and the payment of the next dividend. Typically, a stock’s price moves up by the dollar amount of the dividend as the ex-dividend date approaches, then falls by the amount of the dividend after that date.
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- Ex-Dividend Date
- The first day of trading when the seller, rather than the buyer, of a stock will be entitled to the most recently announced dividend payment. A stock that has gone ex-dividend is marked with x in newspaper listings on that date.
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- Exempt Securities
- Instruments exempt from the registration requirements of the Securities Act of 1933 or the margin requirements of the SEC Act of 1934. Such securities include government bonds, agencies, munis, commercial paper and private placements.
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- Ex-rights
- In connection with a rights offering, shares of stock that are trading without the rights attached.
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- Ex-rights Date
- The date on which a share of common stock begins trading ex-rights.
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