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Foster Wheeler Stands Up to Crazy Hedgies

By Jim Cramer

 About this article:
 Now Foster Wheeler strikes back against the hedge funds gone wild with a buyback of one-eighth of the company. Last night, Potash announced a huge buyback, although with the selling pressure in that name, it won't matter. But Joy Global's buyback of two-fifths of the company seems like it triggered something in these commodity players' execs' minds -- maybe at last there is an end to the ridiculous nature of these totally erroneous declines. I think McDermott's next; it has huge cash, not a big market cap and no debt. KBR , with $1.6 billion in cash, $3 billion in market cap and no debt, is also a candidate. Now, I know there is a perception that these stocks will have no growth as oil work inexorably back to $70 -- if it gets there -- but these companies reflect that now, and their...

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