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JPMorgan Chase & Co. (NYSE:JPM) is among the first group of nine large banks that have submitted their ‘living wills’ to the Fed as mandated by Dodd-Frank. Made available to the public as well, the plans are intended to described in detail how the companies could be taken down in steps to bankruptcy should extreme financial distress or company failure occure.
Micron Technology, Inc. (NASDAQ:MU) will probably integrate Inotera Memories and Rexchip Electronics into a unified operating company, subsequent to the firm’s purchase of Elpida, says Digitimes.
Amylin Pharmaceuticals, Inc.’s (NASDAQ:AMLN) $7 billion acquisition is getting disappointing reviews by Wall Street analysts. Mark Schoenebaum at ISI conducted a survey of analysts and fund managers, and found that only 27 percent of those responding thought that the buyout ‘made any sense at all’. Blair Gibson of The Portfolio Group commented “I hate this deal.”, and from him that does matter, as he wrote the marketing plan for Merck’s drug Januvia, which was one of the most successful drug intros of the last decade.
Shares of GMX Resources (NYSE:GMXR) take off following word of the spudding of an eighth Bakken well in North Dakota. GMXR holds a 50 percent working interest in the Basaraba 24-35-1H, which has a proposed total depth of 20,950 feet and a proposed total vertical depth of 11,221 feet. The bore was initiated with an Helmerich & Payne (NYSE:HP) FlexRig 3.
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