Biggest stock movers today: Patterson Companies, Peloton Interactive and more

On Wednesday, U.S. stock futures declined as investors assessed Federal Reserve Chair Jerome Powell's most recent remarks on inflation.

Here are some of Wednesday's biggest gainers and losers:

Biggest stock gainers

Shares of Patterson Companies (NASDAQ:PDCO) surged 14% to a new 52-week high after the healthcare distributor's 4Q23 earnings and FY2024 forecast topped consensus expectations. The company predicted adjusted EPS in the range of $2.45 - $2.55 in FY2024, compared to the $2.34 consensus.
PureCycle Technologies (NASDAQ:PCT) stock jumped about 15% after the company successfully manufactured the first batch of Ultra-Pure Recycled (UPR) resin from post-industrial recycled waste at its Ironton, Ohio, plant. The yearly output capacity of the Ironton factory is expected to be 107 million pounds of UPR resin.
Exact Sciences (NASDAQ:EXAS) shares increased more than 8% after the company's next-generation Cologuard screening test for colon cancer demonstrated higher cancer specificity and sensitivity than the presently available test. Exact Sciences intends to submit a request to the US Food and Drug Administration for approval of next-generation Cologuard by the end of the year.

Peloton Interactive (NASDAQ:PTON) shares fell almost 10% after Wolfe Research cut its recommendation from peerperform to underperform, with analyst Zach Morrissey taking coverage and noting that a "path to growth doesn't seem to exist." He set a price objective of $6, implying a 20% drop from the current price.
VCI Global's (NASDAQ:VCIG) sails are losing wind after rising 156% on Tuesday following its appointment by Cogia GmbH as a distributor for the promotion and sale of its communication program known as "Socializer Messenger". The shares fell more than 23% in Wednesday's premarket trade.
uniQure (NASDAQ:QURE) stock plunged ~30% after it announced an interim data from its Phase 1/2 trial for AMT-130 in the treatment of neurogenerative disorder Huntington’s disease. The company expects to disclose additional clinical data from its U.S. and EU Phase 1/2 studies for AMT-130 in Q4 2023 before meeting regulators in Q1 2024 to discuss data.