Classes of assets that are not essential to the ongoing operations of a business, but may still generate income or provide a return on investment. These assets will be listed on the balance sheet along with operating assets, and may or may not be broken out separately. Non-operating assets are held by companies for several reasons. It could be an asset related to a closed portion of the business, and might be sold in the future. Non-operating assets can also be used to diversify operational risks (for example by owning some real estate or patents) or simply used as a cash investment. Also known as "redundant assets". Taobiz explains Non-Operating Asset Non-operating assets are often valued separately than operating assets when evaluating a company or its stock. Their value is counted towards the total worth of the company, but may be excluded from financial models that estimate the future profit earning potential of the core business segments and the assets used to generate core revenues as these aren't considered to be assets that will generate future earnings and revenue.
Describes an agreement to purchase or sell shares made directly with the company. Non-open market transactions, as the name suggests, don't take place on a market exchange like most purchase and sale transactions, but instead are private transactions. While these transactions occur outside of the traditional market, they still need to be filed with the SEC. These transactions can be referred to as non-open market acquisition or disposition. Taobiz explains Non-Open Market The most typical non-open market transactions occur when insiders exercise their options. If an insider has an option to buy a certain amount of shares at a set price, they are buying the shares from the company and not through an exchange. However, once the shares have been purchased, the insider can sell the purchased shares into the open market. Another type of non-open market transaction is a tender offer where a corporation offers to repurchase shares from outside shareholders.
A beneficial owner who gives permission to a financial intermediary to release the owner's name and address to the company(ies) or issuer(s) in which they have bought securities. Companies and issuers request this personal information so they can contact the shareholder regarding important shareholder communications (such as proxies, circulars for rights offerings and annual/quarterly reports). Taobiz explains Non-Objecting Beneficial Owner - NOBO A beneficial owner of a security is someone who has a security or securities held by a financial intermediary. This tends to be the individual’s broker, or, in some cases, it may be another financial intermediary the person is associated with. An objecting beneficial owner (OBO)instructs the financial intermediary who holds the securities to not provide the owner's name and personal information to the company that issued the securities. When you set up your account with a broker, you will often have the choice as to whether or not you would like your information released to the companies in which you purchase shares.
Securities that cannot be purchased on margin at a particular brokerage or financial institution. Some classes of securities, such as recent initial public offerings (IPOs), over-the-counter bulletin board stocks, and penny stocks, are non-marginable by decree of the Federal Reserve Board. Other securities, such as stocks with share prices under $5 or with extremely high betas, may be excluded at the discretion of the broker itself. Non-marginable securities must be 100% funded by the investor's own cash, and holdings in non-marginable securities do not add to the investor's margin buying power. Taobiz explains Non-Marginable Securities Most brokerage firms have their own internal lists of non-marginable securities, which investors can find online or by contacting their institutions. These lists will be adjusted over time to reflect changes in share prices and volatility. The main goal of keeping some securities away from margin investors is to mitigate risk and control the administrative costs of excessive margin calls on what are usually volatile stocks with uncertain cash flows.
A class of stock in which the issuing company is not allowed to impose levies on its shareholders for additional funds for further investment. Non-assessable stocks typically have the words "fully paid and non-assessable" printed on the stock certificate. These are the opposite of assessable stocks. Taobiz explains Non-Assessable Stock Assessable stocks proved unpopular, and most companies switched over to issuing non-assessable stock in the early 1900s . Although equity was no longer sold at a discount compared to its share price, investors were more confident about buying non-assessable stocks because they no longer had to worry about the possibility that the issuer would force them to make more investments after the initial transaction.
Stock that is issued without the specification of a par value indicated in the company's articles of incorporation or on the stock certificate itself. Taobiz explains No-Par Value Stock Most shares issued today are classified as no-par or low-par value stock. No-par value stock prices are determined by what investors are willing to pay for them in the market. Companies find it beneficial to issue no-par value stock as they have flexibility in setting higher prices for future public offerings and have less liability to shareholders in the case that their stock falls dramatically.
An exchange-traded fund (ETF) that a broker does not charge a commission or fee to be traded. Most ETFs require an investor to pay each time a buy or sell order is executed, which increases the cost associated with placing frequent trades. A no-fee ETF is used as an incentive to get an investor to move his or her account to a particular broker, with the broker forgoing a transaction fee in order to gain access to the investor's assets. This in turn allows the broker to provide other financial product and services to the investor. Watch: 4 Reasons To Invest In ETFs Taobiz explains No-Fee ETF No-fee ETFs are a relatively new category of investment, as ETFs typically carry a per-trade fee. Unlike mutual funds, which are typically traded much less frequently because their value is calculated at the end of the day and because of higher transaction costs, ETFs were seen as investments that could be traded just as a share of stock because their value is updated continuously.
A type of preferred stock that does not pay the holder any unpaid or omitted dividends. If the corporation chooses to not pay dividends in a given year, the investor does not have the right to claim any of those forgone dividends in the future. Taobiz explains Noncumulative In the case that preferred shares are cumulative, holders are entitled to any missed or omitted dividends. For example, let's assume that ABC Company chooses to not pay its $1.10 annual dividend to its cumulative preferred stockholders. In this case, these shareholders do not receive the dividend this year, but they are entitled to collect this dividend at some point in the future. If the preferred shares mentioned above were noncumulative, the shareholders would never receive the missed dividend of $1.10. The example above illustrates why a cumulative preferred share is worth more than a noncumulative preferred share.
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