Biggest stock movers Wednesday: STNE, GILD, and more

Stock futures continued to decline in premarket trading on Wednesday as investors awaited the Federal Reserve’s interest rate decision.

Here are some of Wednesday's biggest stock movers:

Biggest stock gainers

• StoneCo (NASDAQ:STNE) +10% - Shares surged after reporting better-than-expected Q4 earnings, driven by higher financial services revenue and an expanding client base. Revenue increased 7.5% sequentially and 11% Y/Y, while the adjusted net margin improved to 18.4% from 17.5% in the previous quarter and 17.4% a year ago. Total payment volume rose to R$143.9B, up from R$128.9B in Q3 and R$123.9B in the prior year. Micro, small, and medium business (MSMB) net additions reached 156.7K, compared to 108.1K in the previous quarter.
• CARGO Therapeutics (NASDAQ:CRGX) +18% - Shares soared after the company announced a 90% workforce reduction and the suspension of development for both CRG-023 and its allogeneic platform. The board decided to halt these programs as part of a strategic shift and appointed Anup Radhakrishnan as interim CEO.
   

Biggest stock losers

• Gilead Sciences (NASDAQ:GILD) and GSK (NYSE:GSK) -3% - Shares fell after The Wall Street Journal reported that the Health and Human Services Department is considering significant cuts to federal funding for domestic HIV prevention. This move could negatively impact two of the largest HIV drugmakers, Gilead Sciences (NASDAQ:GILD) and GSK (NYSE:GSK), the majority owner of ViiV Healthcare. A formal announcement could come as soon as March 19, according to the report. The CDC allocated ~$1.3B for HIV, STD, and viral hepatitis prevention in fiscal 2023, and from 2018 to 2022, new HIV cases declined by 12%, attributed to increased pre-exposure prophylaxis (PrEP) prescriptions, viral suppression, and HIV testing.
• HealthEquity (NASDAQ:HQY) -13% - Shares plunged after the company reported mixed Q4 results and issued a weaker-than-expected outlook. For FY2026, management forecasted revenues of $1.280B to $1.305B, falling short of the $1.31B consensus estimate, while projecting non-GAAP net income per diluted share of $3.57 to $3.74, below the $3.76 analyst consensus.