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Out Fox The $treet: August 15, 2018

Stocks to watch on Wednesday:

Macy's (M) - the department store stock is down over 12.5% on a strong beat. The company forecasts EPS topping $4 for the year and the stock is down at $36.50. The company has learned to thrive in the online world and the fears surrounding Turkey are causing an irrational selloff. 

Freeport-McMoRan (FCX) - slumping copper prices due to emerging market weakness has the copper miner below $14. The 52-week low is at $13.22 so this price needs to hold to be aggressive here. Otherwise, the long-term price for copper remains ultra bullish once the trade wars end. Freeport-McMoRan is a position to build into weakness. 

NXP Semi (NXPI) - this semi. stock is another trade war casualty. NXP Semi. is below $90 on global fears in the sector but long-term trends in connected cars and the boost from share buybacks make the stock a buy. Previous support was in the mid-$80s. 

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Disclosure: Long M, FCX

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