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Lumber Liquidators continues free fall, Citi/Visa celebrate new deal with Costco

It's been a long few days for Lumber Liquidators (LL). Shares are down another 20% today after a CBS (CBS) "60 Minutes" story on Sunday suggested the retailer’s laminated flooring, much of it coming from China, contained formaldehyde, which can cause multiple health issues, including cancer. The company issued a statement today saying quote, "We believe that '60 Minutes' used an improper test method in its reporting" and that they "stand by every single plank of wood and laminate we sell all around the country."

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There is better news for Visa (V) and Citigroup (C) coming out of another retailer: Costco (COST). It announced a new co-brand credit card program with the two. Under the terms of the agreements, Citi, the world's largest issuer of consumer credit cards, would become the exclusive issuer of Costco's co-brand credit cards and Visa will replace American Express (AXP) as the credit card network in the United States and Puerto Rico beginning April 2016. MasterCard (MA) is higher in trading today as well.

Sonic (SONC), America's drive-in, is serving up success while larger rivals like McDonald's (MCD) twist in the wind. Shares of Sonic are 5% higher after quarterly store-sales jumped over 11% across several units, helped in part by new initiatives and economic tailwinds. This is key because it is seasonally a slow time for Sonic. So the chain made it clear it's investing in labor to sustain this momentum going into what is seasonally the strongest quarters of the fiscal year, summertime.