Oops, just realized the Futures chart for Nasdaq is the other one. I'd call it 4,550 to 4,350 so easy 200-point but I think we should look for the 50s at 4,400 (weak) and 4,450 (strong) as our significant bounce lines as the Nas tends to really hit those 25 marks. In fact, it just got double rejected at 4,375.
LL/Craigs - Oh no, more bad news. SELLSELLSELL. Oh wait, they are not buying the flooring with potential problems? BUYBUYBUY. LOW's quick action was a good smack in the face for these guys, who obviously are in sore need of a crisis consultant - and they followed LOW's example and did the same. This is something they should have done 2 months ago - as soon as the issue became known.
Meanwhile, from their press release:
Initial results of the indoor air quality testing program for certain laminate flooring customers – conducted by independent, accredited laboratories – indicate that over 97% of customers' homes were within the protective guidelines established by the World Health Organization for formaldehyde levels in indoor air.
From early March through May 1, 2015, BHC sent approximately 26,000 testing kits to nearly 15,000 Lumber Liquidators customers and approximately 11,000 of those testing kits were returned. As of May 1, 2015, over 3,400 testing kits from approximately 2,600 households with laminate flooring sourced from China had been reviewed and analyzed. Of those households, over 97% had indicated indoor air concentrations of formaldehyde that were within the guidelines set by the World Health Organization as protective against sensory irritation and long-term health effects.
Lumber Liquidators is contacting directly its customers whose test results indicate an indoor formaldehyde level in excess of the World Health Organization guideline for additional investigation and review. Those customers are being asked to complete a validation survey to identify any issues with their usage of the testing kit as well as potential sources of formaldehyde in their home and will be provided information on methods to improve indoor air quality.
