英文名称:Cross Holding 中文名称:交叉持股指上市公司之间相互持有对方股份的情况。 When listed corporations own securities issued by other listed corporations. In terms of indexes, cross holdings can create a form of double-counting. For example, if both companies are included in the same index, the value of the holding in one company is reflected in the share price of the other.
英文名称:Clearing Fee 中文名称:结算费用投资公司因结算机构提供的结算服务而向其支付的费用。 A fee charged by clearing corporations for their services provided to investment firms.
英文名称:Callable Preferred Stock 中文名称:可赎回优先股一种优先股,发行人有权以约定的价格赎回该优先股。 A type of preferred stock that carries the provision that the issuer has the right to call in the stock at a certain price and retire it. Also known as "redeemable preferred stock". You can think of preferred stock as a security somewhere in-between stocks and bonds.
英文名称:Cum Rights 中文名称:含权/附新股权含权股,即赋予股票持有人按一定折扣购买新发股票的权利,也可以理解为含有股利、尚未除权的股票。参见除权/不带新股认股权(Ex-rights)。A situation in which the shares held by holders of record are qualified for a rights offering declared by a company. Shares that are trading cum-rights can be sold to another individual with the rights attached. This is the opposite of ex-rights, which do not allow the transfer of rights from an old shareholder to a new shareholder during the two business days prior to the record date. The price of a stock with cum rights is normally higher than that of a stock with ex-rights.
英文名称:Diluted Earnings Per Share 中文名称:摊薄后每股盈利假设所有可转换证券被行权后的每股盈利。A performance metric used to gauge the quality of a company's earnings per share (EPS) if all convertible securities were exercised. Convertible securities refers to all outstanding convertible preferred shares, convertible debentures, stock options (primarily employee based) and warrants. Unless the company has no additional potential shares outstanding (a relatively rare circumstance) the diluted EPS will always be lower than the simple EPS. Remember that earnings per share is calculated by dividing the company's profit by the number of shares outstanding. Warrants, stock options, convertible preferred shares, etc. all serve to increasing the number of shares outstanding. As a shareholder, this is a bad thing. If the denominator in the equation (shares outstanding) is larger, the earnings per share is reduced (the same profit figure is used in the numerator). This is a conservative metric because it indicates somewhat of a worst-case scenario. On one hand, everyone holding options, warrants, convertible preferred shares, etc. is unlikely to convert their shares all at once. At the same time, if things go well, there is a good chance that all options and convertibles will be converted into common stock. A big difference in a company's EPS and diluted EPS can indicate high potential dilution for the company's shares, an attribute almost unanimously ostracized by analysts and investors alike.
英文名称:Downgrade 中文名称:下调评级/降低信用评级指信用评级机构调降债务发行人或债务工具的信用等级。e.g. Deutsche Bank AG (DB) fell 4% premarket, under pressure from a falling market for U.K. and European bank stocks and following a downgrade by analysts at Morgan Stanley. Analysts called Deutsche Bank \"one of our least preferred wholesale banks in Europe.\" A negative change in the rating of a security. This situation occurs when analysts feel that the future prospects for the security have weakened from the orginal recommendation, usually due to a material and fundamental change in the company's operations, future outlook or industry. Analysts place recommendations on securities to give their clients or investors a general idea on the expected performance of that security looking forward. These recommendations are adjusted when the basis behind the recommendation changes, such as the price of the stock or newly released data in the company's financial statements. An analyst may downgrade a stock from a buy to a sell, after the company released information about an Securities and Exchange Commission investigation into the company's operations.
英文名称:Downside 中文名称:下跌1. 指证券或商品价格的瞬间跌落;2. 总体市场或个别股票可能下跌的幅度。 The dollar amount by which the market or a stock has the potential to fall. You might hear someone say that the downside on stock XYZ is $10. What that means is that the stock could fall by this amount if things got bad. Downside is usually gauged by either fundamental or technical factors.
英文名称:Daisy Chain 中文名称:菊花链指经纪商或其他市场人士在某一证券上制造交投旺盛的假象,通常旨在推高价格后出货牟利。 A group of unscrupulous investors who, practicing a kind of fictitious trading or wash selling, artificially inflate the price of a security so that they sell it at a profit. Price manipulation is typically very difficult in stocks with heavy volumes, so the stocks with low liquidity are much more susceptible to daisy chains. Investors who do not look carefully at a stock are the usual prey of a daisy chain. As a stock rises due to increased volume, investors who didn't do all their homework may be attracted to the stock because they want to participate in the rising price. These investors are typically caught owning a stock that continues to depreciate long after the daisy chain sells out their positions for a profit.