Dr. Harvey's Financial Glossary

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Expropriation: The taking over of a company or project by the state, implying compensation will be paid. Nationalization.
Expunge: Used in the context of general equities. Remove any trace of an Auto indication's existence at any time. See: Cancel.
Ex-rights: Shares of stock that are trading without rights attached.
Ex-rights date: The date on which a share of common stock with rights on it begins trading ex-rights.
Extendable bond: Bond whose maturity can be extended at the option of the holder (investor).
Extendable notes: Note with maturity that can be extended by mutual agreement between the issuer and investors.
Extension: Voluntary arrangements to restructure a firm's debt, under which the payment date is postponed.
Extension date: The day on which the first option either expires or is extended.
Extension swap: Extending maturity through a swap, e.g. selling a 2-year note and buying one with a slightly longer current maturity.
External efficiency: Related: Pricing efficiency
External finance: Funding that is not generated by a firm's operations: new borrowing or a stock issue.
External funds: Funds originating from a source outside the corporation to increase cash flow and to aid in expansion efforts, e.g., bank loan or bond offering.
External market: Also referred to as the international market, the offshore market, or, more popularly, the Euromarket. A mechanism for trading securities that at issuance (1) are offered simultaneously to investors in a number of countries and (2) are issued outside the jurisdiction of any single country. Related: Internal market.
Extinguish: Retire or pay off debt.
Extra Dividend: A temporary increase in a firm's dividends beyond the normal level.
Extra or special dividends: A one-time or special dividend that is paid in addition to a firm's established or expected quarterly dividend.
Extraordinary call: Early redemption of a revenue bond because the revenue source paying the interest on the bond has been eliminated or has disappeared.
Extraordinary item: An unusual and unexpected one-time event that must be explained to shareholders in an annual or quarterly report, e.g., write down for a discontinued operation, employee fraud, a lawsuit, or other one-time events. Results are often presented with and without these items. The logic of excluding these items is that investors have a better notion of future performance if one-time events are excluded. Differs from an unusual item in that extraordinary items are (1) material; (2) non-recurring; and (3) outside the ordinary nature of the business.
Extraordinary positive value: A positive net present value.
Extrapolative statistical models: Models that apply a formula to historical data and project results for a future period. Such models include the simple linear trend model, the simple exponential model, and the simple autoregressive model.
Ex-warrants: Describes a stock sale during the time in which the buyer of the stock is not entitled to the warrant accompanying the stock.

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