A group of statistics compiled by the Labor Department that are used as a gauge of inflation at the wholesale level. The amount left after the company's taxes and all other expenses have been paid. Also called net income, or earnings. A measure of a company's profitability, cost structure and efficiency, calculated by dividing a measure of profits by sales. Most program trades are executed on the New York Stock Exchange, using computerized trading systems.
Index arbitrage is the most prominently reported type of program trading.
A formal, written offer to sell securities that sets forth the plan for a proposed or existing business. The prospectus must be filed with the Securities and Exchange Commission and given to prospective buyers. A prospectus includes information on a company's finances, risks, products, services and management. Written authorization given by a shareholder to someone else to vote on the shareholder's behalf at the company's annual meeting. A contest for control of a company in which one or more companies, groups or individuals seek proxies from a company's shareholders to back a takeover attempt.