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The shares or stock sold by a company to provide start-up capital before carrying out an initial public offering (IPO).

A dividend/distribution that is paid in cash.

An analyst employed by a brokerage house such as Merrill Lynch.

After tax income minus preferred dividends and general partner distributions plus depreciation, depletion, and amortization (Market Guide definition). See Operating Cash Flow and Free Cash Flow.

The date when a securities buyer must pay for a purchase or a seller must deliver the securities sold. Settlement must be made on or before the third business day following the transaction date in most cases.

Settlement of an option contract not by delivery of the underlying shares, but by a cash payment of the difference between the strike or exercise price and the underlying settlement price.

A paper certificate that represents the number of shares an investor owns.

The physical document that shows ownership of a bond, stock or other security.

A special form of corporation that invests primarily in real estate. REITs do not pay federal income taxes as long as they pay out 90% of their earnings to shareholders in the form of dividends.

A securities firm or a registered investment advisor affiliated with a firm. Brokers are the link between investors and the stock market. When acting as a broker for the purchase or sale of listed stock, the investment advisor does not own the securities but acts as an agent for the buyer and seller and charges a commission for these services.