Foster Wheeler Still Has Wheels
Updated from 7:06 a.m. EST
There is not a single global infrastructure company whose stock price has not been hammered due to fears of a severe economic slowdown, both domestically and abroad. Two examples are
KBR
(KBR) - Get Report
, which is still suffering from the liquidation of Tontine Partners and its mammoth 15 million share position, and
Foster Wheeler
(FWLT)
, which is down about 75% this year from its 52-week high of $85.65.
Based in Hamilton, Bermuda, Foster Wheeler designs and builds oil, natural gas and LNG processing and refining facilitates for companies such as
Exxon Mobil
(XOM) - Get Report
,
BP
(BP) - Get Report
and
Chevron
(CVX) - Get Report
. It has a superb balance sheet, sporting a healthy backlog of around $8 billion, $1.31 billion in cash and just $223 million in debt.
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