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Janus Profits Plunge; Outflows Slow
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The bad news: asset manager Janus Capital(JNS Quote) posted a 93% nosedive in first-quarter earnings. The good news: it did at least see a slowdown in outflows.
Quarterly earnings were $2.7 million, or 2 cents a share, from $37.4 million or 23 cents in the year-ago period.
The results are preliminary and do not include expected goodwill and intangible asset impairment charges of $900 million to $1 billion, or $5.74 to $6.37 a share. Results will be finalized by May 11. ...
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