It doesn’t matter if you sell soda, HPV vaccines, or international flights: If you hawk anything, you’ve been talking nonstop about tariffs. While a chunk of Q1 earnings reports are still to come, more than 90% of S&P 500 companies that have reported so far have mentioned the word “tariffs,” according to a Reuters analysis.

Several companies either slashed or completely pulled their forecasts for the year yesterday, adding to a growing group of companies that have blamed tariffs for leaving them uncertain about the future:

• PepsiCo lowered its full-year profit outlook, saying its earnings per share are expected to remain even with last year’s following an earlier estimate that they could rise by nearly 5%.
• Pharma giant Merck also said it’s lowering its 2025 guidance due to an expected $200 million in added costs this year, partly from the tariffs.
• Even Chipotle lowered the top end of its sales growth forecast for this year because Chipotle Honey Chicken can only do so much in times of economic uncertainty.

As for airlines…times have most definitely been better. American, Southwest, and Delta have all pulled their forecasts due to concerns over travel demand. American CEO Robert Isom mirrored that feeling when you’re prompted to upgrade your economy seat for 2 centimeters more leg room when he told investors that the company has no intention of absorbing the cost of tariffs. “Aircraft cost too much already and I don’t want to pay any more,” he said.

Bad news for consumers…Procter & Gamble said on its earnings call that it would likely raise prices on top of the 1% YoY price hike it instituted earlier this year. The maker of Pampers, Tide Pods, and pretty much every other spray bottle under your sink said tariffs could cost the company as much as $1.5 billion a year. Other conglomerates that anticipate price hikes include Unilever, Nestlé, and Hasbro, which relies heavily on Chinese manufacturing for toys.

There are exceptions. Comcast also reported earnings yesterday, and said tariffs have not yet impacted the business.—MM

Google gets some good news as breakup looms. Days after a federal judge ruled it was operating an illegal monopoly for the second time in as many years, Google parent Alphabet reported Q1 earnings, and investors were pleased. The tech giant beat Wall Street expectations with $76.5 billion in revenue for the quarter, immediately boosting shares in after-hours trading. The closely watched YouTube advertising revenue came in strong, jumping ~10% from last year and showing few signs of the trade war’s expected effect on the ad market. The good vibes may not last if Google is forced to sell its Chrome web browser.

Home sales had their worst March since 2009. Economic anxiety and high mortgage rates made US home sales fall 5.9% to ~4 million units from February to March—the biggest month-to-month decline in over two years. That was not due to a lack of availability: Home inventory shot up 20% in March compared to the same time last year. And the slowdown is unlikely to end soon. “March numbers are bad, but they’re likely to get worse,” one expert told CNBC, arguing that, on top of existing uncertainty, tariffs could raise prices for home furnishing.

Trump says “Vladimir, STOP!” after Russian strike kills 12 in Kyiv. The US president took to Truth Social to issue a rare criticism of Russian leader Vladimir Putin after Russia bombarded the Ukrainian capital with hundreds of missiles in the deadliest attack on the city since July. The rebuke came after Trump also criticized Ukrainian President Volodymyr Zelensky for refusing to accept a peace deal that would give Russia permanent control of Crimea. Ukraine agreed to a US-brokered, 30-day ceasefire last month, but Putin demurred, saying it didn’t address the “root causes” of the conflict. Hours after Trump’s rebuke of Putin, the president struck a softer tone, telling reporters that not taking over all of Ukraine counts as a “pretty big concession” by Russia.—AE

An AI app launched this week that feels like it was created by the classmate who barely notched a B-minus by copying your homework every morning. Cluely bills itself as allowing users to “cheat on everything” by tracking a user’s screen in a virtual meeting—like a job interview or a sales call—and offering up clever responses.

Its viral launch video demonstrated how the app can be used to lie to a date, prompting a deluge of comments referencing Black Mirror. But not everyone’s appalled: Cluely says it raised $5.3 million from investors and is charging the public $20/month for a subscription.

Columbia “cheater”

Cluely was launched by Columbia undergrad Chungin “Roy” Lee, who was recently suspended for a year for co-creating the app that became Cluely to help job candidates stealthily cheat on coding interviews. Lee claims to have used it to land offers from Amazon, TikTok, Meta, and Capital One.

This led to disciplinary proceedings at the university, but Lee is unbothered by the ethics of his creation. He viewed his job-landing tricks as a protest against LeetCode, a popular coding interview platform hated by many software engineers who consider its assessments burdensome and unrepresentative of their day-to-day work.

Despite billing itself as a “cheat at everything” hack…Cluely’s manifesto claims that its tool enables cheating only as much as a calculator or spellcheck does.—SK

One of 2014’s most noteworthy trends is being rebooted, and thankfully, it’s not Pharrell’s hat that resembled the Arby’s logo. The Ice Bucket Challenge, which raised millions of dollars for ALS research over a decade ago, is going viral again to shine a spotlight on mental health:

• The #SpeakYourMIND initiative was the idea of students in the University of South Carolina’s Mental Illness Needs Discussion (MIND) club, which was founded by junior Wade Jefferson after he lost two friends to suicide.
• As of Thursday, the sequel has raised ~$325,000 for Active Minds, a nonprofit that mobilizes young people to transform mental health norms.

Needs amplification: In 2014, there was no shortage of big names and brands promoting the cause of dumping ice-cold water on your head for charity after you were nominated by someone else, which helped to raise more than $115 million. The resurrected version has yet to receive that level of celebrity or corporate push, though Active Minds reported a 922% increase in web traffic since the drive began last month, per Axios.

Throwing cold water on it: There’s some concern about participating in a mental health movement tied to receiving a nomination from someone on social media, which could leave some feeling left out if they don’t hear their name called.—DL

Don’t show this to Dr. Robby on The Pitt; his day has been hard enough already. Young adults increasingly disregard their doctors’ advice in favor of information from social media. According to an Edelman survey:

• Thirty-eight percent of people aged 18–34 have ignored a doctor’s guidance for info from social media, up from 26% last year.
• Nearly half (45%) of that age group has waved away professional medical advice in favor of info from friends or family.
• The same share of young adults (45%) believes the average person can know as much about health as trained doctors.

While the often noxious stew of misinformation on the internet is partially to blame (nearly 60% of young people said they’ve made a health decision they regret based on bad info), Edelman points to another cause: Most people do not trust governments and businesses to address their health needs. But that’s only because they don’t have a doctor who is as calm, compassionate, and competent as Dr. Michael “Robby” Robinavitch.—AE

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