Date updated:09-18-2008
"Time to take the stocks out of the hands of the hedge fund managers gone wild -- it's ridiculous that 50% of the market capitalization has disappeared overnight without any diminishing of their core businesses and with a decline in the price of the steel they have to price to get the business." - Jim Cramer

-
FWLT
Foster Wheeler Ag - $31.40
- +0.54%
- $31.49
Now Foster Wheeler (FWLT) strikes back against the hedge funds gone wild with a buyback of one-eighth of the company.

-
POT
Potash Cp Saskatc - $114.18
- +1.85%
- $113.13
Last night, Potash (POT) announced a huge buyback, although with the selling pressure in that name, it won't matter.

-
JOYG
Joy Global Inc. - $55.44
- +3.78%
- $54.01
But Joy Global's (JOYG) 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.

-
MDR
Mcdermott Int Pan - $21.58
- -0.05%
- $21.75
I think McDermott's (MDR) next; it has huge cash, not a big market cap and no debt.

-
KBR
Kbr Inc - $19.20
- 0.00%
- $N/A
KBR (KBR), with $1.6 billion in cash, $3 billion in market cap and no debt, is also a candidate.

-
GE
Gen Electric Co - $16.18
- +0.37%
- $16.24
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 order books make it so that someone like a GE (GE) could buy them all and roll them into a mighty infrastructure division.
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A. *correction - 4-star rating, but it was
5 for a long time up until recently.
A. The only one I own : SLX,
too hard pick a winner out all of them
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