JPMorgan (NYSE:JPM), American Express (NYSE:AXP), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) Rise on Deal Expectations

The deal whereby Toronto-Dominion Bank agreed to acquire Chrysler Financial for $6.3 billion has apparently given a boost to financials, as JPMorgan (NYSE:JPM), American Express (NYSE:AXP), Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC) are all trading up today.

Expectations from investors are this is the beginning of a probable flurry of deals which will continue on into 2011.

This goes beyond only the financials as far as expectations go for deals in 2011, as evidenced by Martek Biosciences (Nasdaq:MATK)
receiving a bid on them from Royal DSM, a Dutch firm. Martek has soared to $31.62, up $8.26, or 35.36 percent, as of 1:02 PM EST. Volume is already over 23 million as of this writing.

Some are heartened by the fact these deals were for companies in the U.S. with interest from firms outside the country, suggesting some American-based companies are still considered undervalued.

JPMorgan was trading at $41.16, up $1.21, or 3.03 percent, as of 1:05 PM EST. Wells Fargo was at $30.88, up $0.78, or 2.59 percent. Bank of America was at $12.84, up $0.22, or 1.70 percent. American Express was trading at $43.38, up $0.88, or 2.07 percent.