Changes in Stock List

Any modification to the list of tradable issues of an exchange. These modifications include: new listings, supplemental security listings, substitutional listings, deletions, name changes, and stock symbol changes.

Cost of Sales

Cost of materials and labor required to produce products or services. Gross profit is sales minus cost of sales. 

Business Trust

A trust that usually generates cash flows from one business or operating company, unlike an investment fund, which generates income from a diversified pool or portfolio. The trust holds debt and equity interests of an operating business. Businesses that exhibit these characteristics may opt for a trust structure over a corporate structure to take advantage of tax efficiency.

Buy Side Analyst

Analyst working for mutual fund or other institutional investor. We don’t usually get to see their reports.