St. Joe Soars as Much as 11 Percent

Shares of the St. Joe Company (JOE) jumped more than 10% Monday after CNBC reported that Bruce Berkowitz, head of mutual fund firm Fairholme Capital Management, wants to restructure and lead the Florida-based real estate developer. Mr. Berkowitz is proposing to remove the co.’s Chairman, Hugh Durden, and three other directors and name himself Chairman [...]