This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Jon Corzine, Yahoo!: Hot Trends

Stocks in this article: JPM YHOO AXP

NEW YORK ( TheStreet) -- Jon Corzine, the former chief executive of MF Global could face legal liabilities if investigators are able to prove that he knew customer money might be used when he ordered a $200 million transfer to a British account as the brokerage tinkered on the brink of collapse.

Corzine ordered the money be moved to meet an overdraft from JPMorgan Chase (JPM) in the days leading up to MF Global's bankruptcy. The account may have contained assets belonging not just to MF Global, but to customers as well. Corzine told Congress last year he never ordered customer funds to be used improperly. If it turns out customer funds were used in the transfer, Corzine could be liable for misuse of the funds.

MF Global collapsed on Oct. 31, 2011. The company filed for Chapter 11 bankruptcy protection in New York after a $6.3 billion bet on European bonds raised regulator concerns and prompted a credit-rating downgrade. Corzine quit the firm on Nov. 4.

Yahoo! (YHOO) is trending as the company has appointed three members to its board in preparation for a proxy fight with Third Point LLC, one of its biggest shareholders.

Third Point launched a bid last week to gain four seats on Yahoo!'s board. Yahoo! has nominated John Hayes, chief marketing officer of American Express (AXP), Peter Liguori, former chief operating officer of Discovery Communications and Thomas McInerney, outgoing chief financial officer of IAC/InterActiveCorp.

Third Point, which owns a 5.8% stake in Yahoo!, last week suggested four new directors be appointed to the board, only one of which was accepted by Yahoo!. Yahoo!'s board agreed to appoint turnaround specialist Harry Wilson.

Third Point issued a statement on Sunday, indicating its disappointment with Yahoo!'s decision and its intentions to move forward with a proxy contest.

Last month, Third Point announced that it would revolt unless the company accepted its nominees as directors.

President Obama is a popular topic as he considers a $4.9 billion high-speed bullet train to connect California and Las Vegas.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs