Janus Capital Jumps on Earnings Beat

DENVER ( TheStreet) -- Shares of Janus Capital ( JNS) jumped nearly 13% in Thursday morning trading after the company announced quarterly results that beat earnings estimates.

Net income for the second quarter rose 91% to $30.2 million or 17 cents per share, from $15.8 million in June 2009. Revenue rose 25% to $249.3 million. Analysts were expecting 14 cents a share on revenues of $244 million.

Average assets under management increased 26% to $160.2 million from a year ago, but declined from the March quarter on account of outflows totaling $1.8 billion and market declines.

Other asset managers including Franklin Resources ( BEN), Legg Mason ( LM) and T.Rowe Price ( TROW) also were gaining smartly on Thursday morning.

Janus shares have retreated slightly in afternoon trading, but are still up more than 9% at about $10.40 a share.
Janus Capital Stock Rating Report
(JNS) Rating and Financial Analysis

-- Reported by Shanthi Venkataraman in New York.

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