Foster Wheeler Ltd. (FWLT:US) and Shaw Group Inc. (SHAW:US) will benefit from a U.S. Supreme Court decision instructing the federal government to reconsider its refusal to regulate greenhouse-gas emissions, CNBC host Jim Cramer said today on his ``Mad Money'' television program.
People should re-evaluate ``green'' companies that once weren't considered good investments, said Cramer, a market commentator and former hedge-fund manager. Companies that are tied to cleaning up the environment are going to increase as a result of the April 2 decision, he said.
``I don't think I'm exaggerating when I say this is a landmark decision,'' Cramer said.
Foster Wheeler could increase to as much as $105 a share, Cramer said. Its broilers are used to generate electricity and can help companies reduce emissions, Cramer said.
Shaw Group, a construction company for the energy industry, will benefit from increased interest in nuclear power after the Supreme Court decision. The company has an exclusive deal to provide all engineering, procurement and construction services on certain nuclear plants from Toshiba Corp.'s Westinghouse Electric Co., Cramer said.
Cramer recommended buying or holding Cepheid Inc. (CPHD:US), General Maritime Corp. and Nastech Pharmaceutical Co. during the show's ``Lightning Round'' segment.
He suggested viewers sell shares of Starbucks Corp. (SBUX:US), Tribune Co., Excel Maritime Carriers Ltd. (EXM:US), Dyax Corp. (DYAX:US), Meruelo Maddux Properties Inc. and Houston Wire & Cable Co. (HWCC:US)
Cramer said he owns Goldman Sachs and Capital for his charitable trust.
To contact the reporter on this story: Adam Satariano in San Francisco at Asatariano1@bloomberg.net.
To contact the editor responsible for this story: Jeff Ward at email@example.com.