Late yesterday, Janus Capital Group (NYSE:JNS) reported second-quarter earnings of 10 cents per share compared to a net loss of $5.22 per share in the first quarter. The first-quarter results included charges of $5.21 per share.

The company also announced that it is going to offer $150 million in new common stock, along with $150 million of convertible senior notes due in 2014. According to the company, the notes will be convertible under certain circumstances into cash, shares of JNS stock, or a combination of the two - depending on what the company chooses. The company will use the money raised and other cash to buy back as much as $400 million of the aggregate principal amount of the firm's outstanding 2011, 2012, and 2017 senior notes.

MAJOR PAPERS:

• The Wall Street Journal's "Smartmoney Stock Screen" looks at eight companies whose valuations make them ripe to buy, and they also may be in the sites of corporate buyers. The big eight include Asbury Automotive Group Inc (NYSE: ABG), Crane Company (NYSE: CR), Scholastic Corporation (NASDAQ: SCHL) and The Scotts Miracle-Gro Company (NYSE: SMG).
• The Wall Street Journal's Walter Mossberg said in the "Personal Technology" column that he cannot recommend Apple Inc's (NASDAQ: AAPL) MobileMe, as it has "too many flaws to keep its promises".
• The Wall Street Journal also speculated that the collapse this week of SemGroup LP, which is the parent of SemGroup Energy Partners LP (NASDAQ: SGLP), may have played a role in the 14% drop in crude oil over the past 10 days.
• In a move that could take advantage of the gap in the financing markets, The Goldman Sachs Group Inc (NYSE: GS) raised $10B to invest in loans backing leveraged buyouts. The fund will reportedly buy senior loans, the Financial Times reported.

OTHER PAPERS:

• Former American International Group Inc (NYSE: AIG) chief Hank Greenberg is reportedly in settlement talks with New York Attorney General Andrew Cuomo over charges that Greenberg improperly inflated corporate books to show improved profits, the New York Post said.

F5 Networks (NASDAQ: FFIV) -- implied volatility collapses on EPS; FFIV rallies 20%. FFIV, a provider of content switching application traffic solutions, is recently up $13.06 to $79.22. WEDB says "Q2 exceeds expectations; continued growth to come." FFIV May option implied volatility of 34 is below its 26-week average of 42 according to Track Data, suggesting decreasing price fluctuations.

Jeffries Group (NYSE: JEF) -- option implied volatility Up to 42; on speculation Risk. JEF, an investment bank engaged in financial product execution services and asset management, is recently up 08 cents to $30.19. JEF has been frequently mentioned as a takeover target. JEF call option volume of 2,194 contracts compares to put volume of 231 contracts. JEF May option implied volatility of 42 is above its 26-week average of 31 according to Track Data, suggesting larger price risks.

United Rentals (NYSE: URI) -- implied volatility & volume increases into EPS & on speculation. URI, the largest equipment rental company in the world, is recently up 96 cents to $33.69. URI will report EPS on 5/3. URI call option volume of 2,347 contracts compares to put volume of 406 contracts. URI May 35 calls are bid 75 cents above its theoretical value of 35 cents. URI May & June option implied volatility of 38 is above its 26-week average of 35 according to Track Data, suggesting slightly more risk.

Option volume leaders today are: Apple Inc. (NASDAQ: AAPL), Amazon.com Inc. (NASDAQ: AMZN) and Qualcomm Inc. ( (NASDAQ: QCOM).