Diamonds and Dogs
9/26/14Janus Capital Group Inc. (JNS)
Janus Capital is on fire today, up 39.51% to $15.50. The asset management company saw its shares reach a 3.5 year high after news that "Bond King" Bill Gross was leaving his 43-year tenure at PIMCO to join the Janus team. Gross, a founder of PIMCO, amassed over $2 trillion dollars in his time at PIMCO, however he stated that now he feels it is time to move on and move a smaller firm. The move is huge for Janus and investors want to follow the Bond King to Janus, if just a quarter of PIMCO's assets follow Gross to Janus it could mean an additional $0.50 per share for Janus' bottom-line.
AcelRx Pharmaceuticals Inc. (ACRX)
AcelRx is making investors sick today, down 18.65% to $5.47. The acute and breakthrough pain company saw its shares slide after news that the company would need more time then it initially thought before it can resubmit for FDA approval. AcelRx management now feels that they will have to delay their submission to the FDA until the first quarter of 2015. The time delay seems to be scaring off investors and shares hit a 17-month low of $5.27 intraday.