An analyst recommendation that means a stock is expected to do slightly worse than the market return. Also known as market underperform, moderate sell, or weak hold. Taobiz explains Underperform Exact definitions vary between brokerages, but in general this rating is worse than neutral but better than sell or strong sell.
A warrant that can only be exercised if the host asset, typically a bond or preferred stock, is surrendered. Until the call date of the host asset is reached, the warrant can only be exercised if the holder surrenders an equal amount of host asset. The time period in which the investor has to surrender the equal amount of host asset is set in the warrant itself. After that time has passed, the warrant's holder can buy non-callable bonds. Also known as "harmless warrant" or "wedded warrant". |||Wedding warrants are so named because the warrant is "wedded" for a certain period of time, and can only be "divorced" from the host bond after that time has passed. Wedding warrants were introduced as financial products in the 1980s. Investors typically don't use them because they have to hold the warrant for a long period of time until the call date is reached, or risk having to buy the host bond as well.
A situation in which the price or rate of a security does not change between two periods. This can be over any time frame including a trading day, week, or even as much as a year. Sometimes seen as "UNCH." Taobiz explains Unchanged For example, assume that the closing price of ABC stock on Tuesday was $13.50 and on Wednesday the price also closed at $13.50. During this period, the price of ABC stock is referred to as being unchanged, even though the price of the stock likely fluctuated during the day.
The process of taking over a large company with several different lines of business, and then, while retaining the core business, selling off the subsidiaries to help fund the takeover. Taobiz explains Unbundling In other words, unbundling occurs when a company purchases another for its most valuable divisions (its crown jewels) with little desire for the other aspects of the business.
A line of credit extended by a financial institution to a loan originator to fund a mortgage that a borrower initially used to buy a property. The loan typically lasts from the time it is originated to when the loan is sold into the secondary market, whether directly or through a securitization. |||Loan originators depend on the eventual sale of a loan to repay the warehouse lender; therefore, warehouse lenders closely monitor each loan's progression with the originator toward its eventual sale. To ensure the repayment of warehouse lines of credit, warehouse lenders typically require a small charge for each transaction as well as for when the originators post collateral.
A lucrative and highly competitive method of stock trading that uses special software that works in milliseconds to make trades in reaction to market changes. This type of trading has been criticized for worsening stock swings and for unfairly manipulating stock prices. The software's advocates say it improves trading efficiency. Also known as "high frequency trading." Taobiz explains Ultrafast Trading Ultrafast trading has also given rise to civil and criminal lawsuits because the highly paid programmers hired by Wall Street firms to develop the software, which takes years and costs millions in salaries alone, are believed to take the code with them when they switch companies, which is a great liablity to their former employers.
A dividend that is owed to stockholders of record but has yet to be distributed. An unpaid dividend will exist in the time between the date of record (when the stock will be trading ex-dividend) and the dividend payment date. Watch: Dividend Taobiz explains Unpaid Dividend Most dividends have an "of record" date - a date as of which all holders of the security are eligible to receive the dividend. During the time between this date and the actual date of payment, even investors who sell their holdings will still receive the dividend.
Slang for the Washington Public Power Supply System (WPPSS), which made the record books with the largest municipal bond default in history. |||During the 1970s and 80s, the WPPSS financed the construction of five nuclear power plants through the issuance of billions of dollars worth of municipal bonds. In 1983, due to extremely poor project management, construction on a couple of plants was canceled, and the completion of construction on the remaining plants seemed unlikely. Consequently, the take-or-pay arrangements that had been backing the municipal bonds were ruled void by the Washington Supreme Court. As a result, the WPPSS had the largest municipal debt default in history.... Whoops!
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