Jim Cramer's 'Stop Trading!': Buy Foster Wheeler
Buy Foster Wheelerundefined, Jim Cramer said on CNBC's "Stop Trading!" segment Friday.
Cramer said he also likes
ABB
, but "the problem with it is it's got too much nuclear." No one wants to build a nuclear plant in this country, he said.
Cramer likes Foster Wheeler for its coal-bed fluidization. "Coal is hot as a pistol," he said. He mentioned
Arch Coal
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as a company in the sector. At the end of the day, however, "Foster Wheeler is my play. Period. End of story," he said. He said the company reported a "powerful quarter" and has a "great backlog."
Cramer said some people estimate that 50% of commodities are trading on speculation, "which makes me want to buy
CME Group
(CME) - Get CME Group Inc. Report
." He predicted a "major move to the upside" once the exchange finishes acquiring
Nymex Holdings
TheStreet Recommends
( NMX). "They're very pro-shareholder," he said.
Cramer said that a decline in
Washington Mutual
(WM) - Get Waste Management Inc. Report
shares was a "classic raid" by short-sellers. He recommended that the Senate investigate short-selling tactics.
Cramer also said the fundamentals of the company are bad. "I really dislike that stock intensely," he said. He concluded by joking, "It has a great deposit base. It maybe gets an $8 bid one day." The stock is currently trading in the $10.50 range.
At the time of publication, Cramer was long Foster Wheeler.
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