unit 2a. stocks & shares. part i. stock basics what are shares/stocks? in business and finance,...
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Part I. Stock Basics
• What are shares/stocks?
In business and finance, a share
(also referred to as equity share)
of stock means a share of
ownership in a corporation
(company). In the plural, stocks is
often used as a synonym for
shares especially in the United
States.
Categories of stocks
Common stock ( 普通股 )As a unit of ownership, common stock typically carries
voting rights that can be exercised in corporate
decisions.
Preferred stock (优先股)Preferred stock differs from common stock in that it
typically does not carry voting rights but is legally
entitled to receive a certain level of dividend payments
before any dividends can be issued to other
shareholders.
Categories of stocks
Capital stocks ( 股本 ) Total amount of a firm's capital, represented by the value o
f its issued common and preferred stock
ADR( 美国存托凭证 )Issued by a US depositary bank that represent shares of a
foreign corporation held by the bank.
Types of stocks
Income stocks (收益股) Use large dividends to generate income
Blue chip stocks( 蓝筹股 )Pay small but regular dividends
Maintain a fairly steady price
Solid and reliable companies
Types of stocks
Growth stocks ( 增长股 ) Little or no dividend
Young entrepreneurial companies
Cyclical stocks( 周期性产业股 )Price in recessions in booms
Defensive stocks ( 防御类股 )Price in recessions in booms
Stock Index ( 股票指数 )
A stock market index is a method of me
asuring a section of the stock market. Ma
ny indices are cited by news or financial s
ervices firms and are used to benchmark t
he performance of portfolios such as mutu
al funds.
Stock Index ( 股价指数 )
Down Jones Industrial Average
道琼斯工业指数Standard & Poor’s 500
标准普尔 500 指数NYSE Composite Index
纽约证券交易所综合指数 Nikkei 225
日经 225 指数
Annual Report ( 年报 )
Corporate Information
Chairman’s Report
Corporate Governance Report
Report of the Directors
Financial Statements
Annual Report ( 年报 )
Financial StatementsReport of the Independent Auditors( 独立审计师报
告 )
Income Statement( 损益表 )
Balance Sheet( 资产负债表 )
Statement of retained earnings( 留存收益表 )
Statement of Changes in Equity( 权益变动表 )
Cash Flow Statement( 现金流量表 )
Notes to the Financial Statements( 财务报表附注 )
Listening: • Listen to a television report about the share pri
ces of Internet companies. How have they performed over the last year? (P18)
• Choose the correct answer for exercise 2.
Words and Phrases
• Go through the roof• Run into difficulties• The bubble finally burst• Drive … up high• Hype• Jump on the Internet bandwagon• In excess of • Reach the break-even point
• Never mind
• Page hits
• Is bound to increase
• Yardstick
• We were due a sell-off
• Float
• Level out
• Rollercoaster ride
• Broker’s commission
• Buy in and out of stocks
• Breaking news
• Million dollar question
• Soar
• Consolidation activity
Why do people invest in these companies?
• Trendy
• Brand factor
• Tremendous potential for future revenue
• Audience reach
What will companies in this sector do in the future?
• Consolidation activity– Lycos & HotBot– Bertelsmann, Barnes & Noble