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TWM Today: Wall Street

|Includes: Palm, Inc. (PALM)
Palm On The Market ~  Palm Inc., (PALM) creator of the Pre smartphone, is seeking bids for the company as early as this week, according to three people familiar with the situation. The company is working with Goldman Sachs Group Inc. and Frank Quattrone’s Qatalyst Partners to find a buyer, said the people, who declined to be identified because a sale has not been announced. Taiwan’s HTC Corp. and China’s Lenovo Group Ltd. have looked at the company and may make offers, said the people. (Bloomberg)

GM Looking Good In China ~ General Motors expects to boost its annual sales in China to more than 3 million vehicles in 2015 as the country's auto market continues grow faster than that in the U.S. (WSJ)

Whew, Bailout Cheaper Than Expected ~ The U.S. government's bailout of the financial system is expected to cost $89 billion, much lower than earlier projections, the Wall Street Journal reported on Sunday, citing Treasury Department officials. In April last year, U.S. congressional budget analysts had estimated the net cost to taxpayers for the government's financial rescue program to be $356 billion. The $89 billion estimate is also 42 percent less than the savings-and-loan crisis, the paper said. (NASDAQ:CNBC)

Greece Can Breathe Again ~ European leaders provided a long-awaited financial rescue line to Greece on Sunday, offering the country up to $40 billion in aid to meet its giant debt obligations. Under the plan, Greece would receive loans at about 5 percent interest, significantly lower than the rate of 7.5 percent that the markets were demanding last week, though not as low as Greece had wanted. (NYSE:NYT)

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