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CNN's Paul La Monica Talks Target, E-Commerce And The Retail Sector With Benzinga

FL, DE, WMT, AMZN, NKE, TGT | August 19, 2016

Target Corporation (NYSE: TGT) is losing momentum — both in brick-and-mortar stores and online — as it is bruised by Amazon.com, Inc. (NASDAQ: AMZN). But, Amazon isn't the only rival encroaching upon Target; the rebound of Wal-Mart Stores, Inc. (NYSE: WMT) may further halt the growth at Target.

"Investors have realized that Wal-Mart is turning things around," CNN digital correspondent Paul La Monica shared on Benzinga's PreMarket Prep.

La Monica is also positive on the retail giant's acquisition of Jet.com and said investors are sensing that maybe Wal-Mart is a better digital bet than Target and could even give Amazon a run for its money.

The executive also warned that Wal-Mart outright will not become a significant competitor in digital versus Amazon, which is also taking the "right steps." He attributed the recent gains in Wal-Mart to overselling last year as well as Amazon shares' recent "cooling off."

La Monica, while commenting on the results of Deere & Company (NYSE: DE) and Foot Locker, Inc. (NYSE: FL), noted that Deere is gaining momentum due to Chinese demand and Footlocker is performing well despite slip-ups from Nike Inc (NYSE: NKE).

Commenting on GDP trends, La Monica said if businesses don't start more investing, that may keep GDP in this kind of sluggish mode at 2 percent at best.

"It is better than Europe or Japan obviously, still it doesn't feel great," he added.

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