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NASDAQ
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See National Association of Securities Dealers Automated Quotations System.
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NASDAQ INDEX
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Measures the total return of the stocks on the National Association of Securities Dealers Automated Quotation System (Nasdaq) stock market.
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NATIONAL ACCOUNTS
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Statistic Canada's most detailed report card on the performance of the economy. They present an overview of economic performance, including output, income growth and inflation. The National Accounts also show measures of government expenditures, revenues and budget balances.
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NATIONAL ASSOCIATION OF SECURITIES DEALERS AUTOMATED QUOTATIONS SYSTEM (NASDAQ)
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A computerized system established by the NASD to improve trading by providing broker/dealers with up-to-date bid and ask price quotes on overthe-counter stocks and some listed stocks.
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NEGATIVE PLEDGE PROVISION
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A protective provision written into the trust indenture of a company's debenture issue indicating that no subsequent mortgage bond issue may be secured by all or part of the company's assets, unless simultaneously when the company's debentures are similarly secured.
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NET EARNINGS
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The part of a company's profits that remain after all expenses and taxes have been paid, and out of which dividends may be paid.
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NET PROFIT MARGIN
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A profitability ratio that indicates how efficiently the company is being managed after taking into account both expenses and taxes. It is calculated as a ratio of net profit divided by total sales.
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NET INCOME
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For a business, it is the same as net profit or earnings. For an individual, it is gross income minus incurred expenses, used to calculate income tax owed. May also be called bottom line.
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NET ASSET VALUE
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The value of all the holdings of an investment fund, less the fund's liabilities.
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NET ASSET VALUE PER SHARE
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Net asset value of an investment fund divided by the number of shares or units outstanding. This represents the base value of a share or unit of a fund and is commonly known in its short form as NAVPS.
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NET INVESTMENT
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The investment in productive capital goods, calculated by subtracting the depreciation in value of existing capital goods from total or gross investment. As an economy becomes more capital-intensive, more of its production has to be focused on replacing depreciated capital in order to maintain the standard of living. If a firm buys $2 million worth of new machinery in a year, but depreciates $500,000 of old equipment that is losing its value, then its net investment is $1,500,000.
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NET OPERATING INCOME
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Income after deducting operating expenses but before deducting depreciation, income taxes and interest.
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NET PROFIT MARGIN
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Net profit divided by net revenues, and expressed as a percentage.
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NEW ECONOMY
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Trends in the world economy including globalization, information technology and the computer revolution that have resulted in new sources of growth for the economy. The new economy presents Canada with opportunities and difficulties as some markets grow and change, and others stumble into decline. In order to meet these challenges in the face of a global economy of competitors, Canadians will need to ensure that they have the skill sets that are required in the new economy.
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NEW YORK STOCK EXCHANGE (NYSE)
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The oldest and largest stock exchange in the U.S., located on Wall Street in New York City. It is responsible for setting policy, supervising member activities, listing securities, overseeing the transfer of member seats and evaluating applicants. Another name for the NYSE is the Big Board.
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NIFTY FIFTY
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The term given to fifty large capitalization blue chip stocks, which were so overwhelmingly popular prior to the bear market of 1973-1974 that their stock prices rose to irrational levels.
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NIKKEI INDEX
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An Index of 225 leading stocks traded on the Tokyo Stock Exchange.
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NO-LOAD FUND
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An investment fund that does not charge an upfront or deferred fee for buying or selling its shares or units.
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NON-CALLABLE
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Unable to be redeemed at any point prior to maturity.
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NON-VOTING STOCK
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A stock that does not provide the holder with the right to vote on corporate issues, such as the election of the Board of Directors. Preferred stock is normally non-voting. This type of stock is well known in Canada but rare in other markets.
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NO PAR VALUE (N.P.V.)
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Indicates a common stock that has no specified face value.
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NORMAL YIELD CURVE
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A situation in which longer-term debt instruments have higher yields than shorter-term debt instruments. May also be called a positive yield curve.
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NOT RATED
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A security or company that has not been given a rating by Moody's, Standard and Poor's or another rating service.
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NYSE
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See New York Stock Exchange.
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