St. Joe Pushes Q4 Earnings Back to March 1

[Stocks-to-Watch]

The St. Joe Company (JOE) is postponing its fourth quarter and full year earnings from Thursday, February 24, to March 1, the Florida real estate company said today after the market close.

St. Joe said that the delay was necessary “in order to allow adequate time to finalize its Form 10-K,” according to the company’s press release.

This move comes after Fairholme Fund president Bruce Berkowitz outlined his plan to replace the company’s existing board members. St. Joe is adamantly opposed to the attempts by Fairholme, it’s largest shareholder, to gain control of company.

See previous posts about Berkowitz’s resignation from the board, as well as the effect of M&A rumors on the stock, and David Einhorn‘s take on the stock as overvalued.



Original Article Source by Barrons.com