CRVO Spikes +36% on Promising Dementia Capsule Data

Corvus Pharmaceuticals (CRVO) surged +36% in a single day after reporting positive results from cognitive testing with its new capsule formulation. The data showed statistically significant improvements in dementia-related metrics, including the Dementia Cognitive Fluctuation Scale and International Shopping List Test-Recognition for working memory. Positive trends were also noted on the NPI-12, TUG, and UPDRS Part III motor scale. The strong response reflects investor optimism around CRVO’s neurodegenerative pipeline and potential competitive edge in the cognitive health space.

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PVH Jumps +18% on $500M Buyback Announcement

PVH Corp. (PVH) rallied +18% after announcing a $500 million accelerated share repurchase (ASR) plan. The move signals management’s confidence in PVH’s valuation and future performance, and marks a significant step in capital return to shareholders. The ASR follows strong performance in key brand segments and positions PVH to enhance EPS through reduced share count, boosting investor sentiment.

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RH Crashes 40% on Earnings Miss, Tariffs – CEO Reacts Live

RH (formerly Restoration Hardware) suffered its worst single-day loss in public market history, plunging nearly 40% after a brutal earnings miss collided with Trump’s sweeping new tariffs on Asian imports. The dramatic selloff unfolded live during RH’s earnings call, prompting CEO Gary Friedman to mutter, “Oh, sh—,” as he saw the stock crash in real time.
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Friedman attributed much of the damage to newly announced 46% tariffs on Vietnam and 32% on Taiwan—two key sourcing regions for RH. “It’s not a secret where we manufacture,” he said, noting that much of the home furnishings industry relies on Asia-based supply chains. The sudden levies hit RH just as it was already battling a historic housing downturn, which Friedman called “the worst housing market in nearly 50 years.”
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RH reported Q4 earnings of $1.58/share on $812M in revenue, both missing analyst estimates. Its full-year guidance also came in below consensus, citing inflation, tariffs, and broader economic volatility. Despite the grim print, Friedman hinted at a forthcoming “big and bold” strategy shift in sourcing—likely accelerated due to geopolitical headwinds.
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The stock collapse underscored market fragility as luxury and housing-linked names face dual pressures from macro weakness and protectionist policy shifts. RH now trades at its lowest level since 2020.

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Lululemon Slides -9.6% as Vietnam Tariffs Shake Cost Structure

Lululemon (LULU) tumbled nearly 10% this week, hit hard by the ripple effects of Trump’s sweeping new tariffs on key sourcing countries. The athletic apparel brand sources almost 90% of its products from Vietnam, Cambodia, Sri Lanka, Indonesia, and Bangladesh—with Vietnam alone accounting for 40% of its supply chain. Trump’s announcement of a 46% tariff on Vietnamese imports sparked a swift and brutal selloff, marking one of Lululemon’s sharpest single-day declines since 2020.
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The move intensified concerns over cost inflation and shrinking margins, as Lululemon has not meaningfully diversified its manufacturing base. Analysts warn the firm may have to either raise prices or accept margin compression—both unappealing options amid an already fragile consumer landscape.
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But in a dramatic diplomatic pivot, Vietnam’s leadership sent a letter to President Trump on April 5 offering to eliminate all tariffs on U.S. goods in exchange for postponement or cancellation of the new duties. Hanoi’s plea includes a request for a 45-day delay beyond the scheduled April 9 implementation, signaling urgency and strategic compromise from a country increasingly seen as a critical alternative to China in global manufacturing.

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Discount Retailers Tank as Tariff Fears Mount

Five Below and Dollar Tree tumbled -27.8% and -13.3% after Trump’s reciprocal tariffs hammered import-reliant retailers. Dollar Tree CEO Michael Creedon warned the new levies could cost up to $20M/month, but said the company may raise prices and renegotiate with suppliers to offset the blow.

Despite beating Q4 estimates and guiding 3–5% same-store sales growth for 2025, the company excluded full tariff impacts from guidance due to uncertainty. Five Below, lacking pricing flexibility, suffered its worst single-day loss ever. With inflation already biting, discount chains now face rising costs just as shoppers grow more price-sensitive.

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