Citigroup Inc. (NYSE:C), JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Company (NYSE:WFC) will cease insuring checking domestic accounts above the standard $250,000 limit, one year after the government set up the program to ease fears of deposit runs. The banks plan to exit the Federal Deposit Insurance Corporation’s Transaction Account Guarantee Program at year end. The program was among emergency measures created in October 2008 to shore up confidence in the banking system and avert a collapse of financial markets. Bank of America Corporation (NYSE: BAC) plans to opt out on October 16. -Bloomberg

Palm (NASDAQ: PALM) shares rose 8 percent on today fueled by rumors that bigger rival phone maker Nokia may be eyeing the maker of the Pre and Pixi smartphones. "Palm shares leaped and its call volume surged to 9 times their normal level as more than 80,000 call contracts traded by midday on renewed takeover speculation. Representatives for Palm and Nokia were not immediately available to comment after Palm shares rose 8.1 percent to $12.38 in afternoon trading on the Nasdaq. -Reuters

Two private-equity owned U.S. retailers, discounter Dollar General Corp. (DG) and youth apparel chain rue21 Inc. (RUE) rose in their trading debuts today, in performances that will soothe worries that investor appetite for buyout-backed initial public offerings has waned. Shares of Dollar General rose as much as 10 percent on the New York Stock Exchange, while rue21 advanced as high as 28.4 percent on the Nasdaq, placing it on pace for one of the biggest first-day jumps of an IPO this year. In afternoon trading, Dollar General shares were quoted at $22.77/share, or up 8.4 percent, while rue21 was up 28.4 percent, trading for $24.40/share. -Daily Finance