Denver-based Janus Capital Group Inc. shares jumped 6.7 percent Tuesday after JPMorgan Chase & Co. analysts said rising investment returns will add to sales and performance- based fees in the third quarter.
Janus rose $2.21 to $35.12 in New York Stock Exchange composite trading.
The company’s stock has surged 63 percent this year, making it the top performer in the 14-member Standard and Poor’s Supercomposite Asset Management & Custody Banks Index.
Additional business news briefs:
US Gold sues Denver law firm
LAKEWOOD – US Gold Corp. filed suit in Denver district court last week against a law firm it says bungled efforts to buy out four Canadian gold-mining operations last year, needlessly costing the company millions of dollars to eventually close the deal.
In its lawsuit against Denver-based Holme Roberts & Owen, US Gold is seeking nearly $2.2 million it says it spent to undo mistakes the lawyers made in March 2006, most of them related to Securities and Exchange Commission filings and tax-related details required in the acquisition.
Foreclosure filings decline in Sept.
IRVINE, CALIF. – Foreclosure activity eased in September despite a credit crunch that made mortgages harder to obtain during the late summer, according to RealtyTrac, a California provider of foreclosure data.
Foreclosure filings declined 8 percent in the U.S. and 4.5 percent in Colorado during September, compared with August, according to RealtyTrac.
Colorado ranked eighth among all states with one foreclosure filing for every 326 households.
ConAgra shuts down pot-pie plant because of salmonella concerns
OMAHA – ConAgra Foods Inc. voluntarily stopped production Tuesday at its Missouri plant that makes its Banquet pot pies after health officials said the pies may be linked to 139 cases of salmonella in 30 states.
ConAgra officials say they believe the company’s pies are safe if they’re cooked properly, but the Omaha-based company told consumers not to eat its chicken or turkey pot pies until the government and company investigations are complete.
The U.S. Department of Agriculture also issued a health alert Tuesday.
Ex-CEO of HP joins Fox News lineup
SAN FRANCISCO – Carly Fiorina, former chief executive of computer and printer maker Hewlett-Packard Co., has signed on as a contributor with Fox News’ soon-to- launch business-news channel, the media company announced Tuesday.
Seizure medicine may help fight alcoholism
CHICAGO – Johnson & Johnson’s seizure medicine Topamax helped alcoholics cut their drinking, according to research that may lead to a new approach to fighting the addiction.
The study, appearing today in the Journal of the American Medical Association, found that Topamax helped alcoholics reduce the number of days they spent drinking heavily without detox treatment.
Settlement ends long legal argument over acid rain
WASHINGTON – A $4.6 billion settlement Tuesday by one of the last holdouts among polluting power companies signals the end of a long legal debate over acid rain – and a tougher battle ahead over carbon dioxide and the use of fossil fuels.
The agreement with American Electric Power Co., struck just as the company was to defend itself in court, ends an eight-year battle over reducing smokestack pollution that drifted across Northeast and mid- Atlantic states and chewed away at mountain ranges, bays and national landmarks.
