Ticker Talk

Kansas City Southern Industries Inc.’s stock fell 9% on Tuesday after a Wall Street analyst said Janus Capital Corp. wants to be independently spun off from the railroad company. Kansas City Southern is proposing to spin off its financial services businesses to create Stilwell Financial Inc. But Janus, which generated about 90% of Kansas City Southern’s second-quarter earnings, doesn’t want to be part of Stilwell, said Steven Eisman of CIBC World Markets. “It’s a war and Janus is willing to take some Draconian steps to get what they want . . . including issuing so much phantom stock to its employees that Janus’ profit margins would be crushed.” Kansas City Southern fell $4.81 to close at $48.19 on the New York Stock Exchange.