Donaldson, Lufkin & Jenrette's share price soared on Tuesday on the back of rumours that Axa Financial, had put the investment bank up for sale.

Wall Street has been buzzing for the past ten days with rumours that Axa Financial, the US arm of the French insurer Axa SA, which owns 71% of DLJ, was in talks with JP Morgan. Another name in the frame, is CSFB, say analysts.