Wall Street Hubbub 8/18: Druckenmiller Can't Take It Anymore, M&A Rumor Frenzy Continue

Takeover speculation was hot-and-heavy again today following yesterday's hostile bid for PotashCorp. Below is a review of today's Wall Street market talk:

Hedge fund guru Stanley Druckenmiller will close his fund after 30 winning-years as his recent lackluster returns has left him frustrated and stressed.

PotashCorp. (NYSE: POT) was up another 3 percent today as speculation suggests that BHP (NYSE: BHP) will have to pay at least $150/share to win over shareholders. BHP went hostile today with its $130/share offer.

After BHP's bid for POT, Mosaic Co. (NYSE: MOS) is seen as a nice fit for Vale S.A. (Nasdaq: VALE).

United States Steel Corp. (NYSE: X) is up over 6 percent on speculation Arcelor Mittal (MT) could make a bid for the company. An analyst at Dahlman Rose discounted the speculation, citing anti-trust issues.

Quicksilver Resources Inc. (NYSE: KWK) was the subject of more takeover talk today. In the past India-based Reliance Industries was mentioned as a buyer. Today EnCana Corp. (NYSE: ECA) was mentioned.

Hauppauge Digital Inc. (Nasdaq: HAUP) is up 25% on speculation about its product working with a potential Google tablet.

Other unsubstantiated takeover rumors: Cree Inc. (Nasdaq: CREE), SunTrust Banks, Inc. (NYSE: STI), Wendy's/Arby's Group, Inc. (NYSE: WEN).

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