Janus Shares Fall on Margin Worries
Janus (JNS) fell 3% Thursday after UBS downgraded the stock.
The setback came a day after the Denver-based asset manager reported some modest good news, saying assets under management rose 5% last month.
But on Thursday, Janus shares slipped 56 cents to $16.21 after UBS analyst Glenn Schorr cut the stock to reduce from neutral, saying the stock price is "ahead of the fundamentals." Janus shares have risen some 23% off their Sept. 28 low.
Schorr says he expects margin pressure to continue to hamper Janus. He says the scheduled December outflow of $1.9 billion by ING, to be followed by another $2.5 billion outflow in May, will weigh on the shares. ING started
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