Stock futures inched up on Thursday as investors assessed President Donald Trump’s 25% tariff on foreign cars, which is set to take effect next week. 

Here are some of Thursday's biggest stock movers:

Biggest stock gainers

• Soleno (SLNO) +41% - Shares jumped after the U.S. FDA approved Vykat XR (diazoxide choline) for treating hyperphagia associated with Prader-Willi syndrome (PWS) in patients aged four and older, with availability expected in April. The approval was based on a 16-week Phase 3 withdrawal study, where patients who switched to a placebo experienced a significant worsening of hyperphagia compared to those who remained on the drug. Hyperphagia, a key symptom of PWS, involves an extreme and persistent urge to eat, leading to serious health risks.
• Hertz Global Holdings (NASDAQ:HTZ) and Avis Budget (NASDAQ:CAR) +24% – Shares soared as investors viewed auto sector developments positively, despite no specific corporate announcements or earnings updates. Some traders attributed the surge to tariff developments, which could drive higher used car prices, potentially benefiting rental car companies.
• 23andMe Holding Co. (NASDAQ:ME) +151% - Shares surged, marking a record gain, after a judge ruled that the genetic testing company can explore selling customer data as part of its bankruptcy proceedings.

Biggest stock losers

• General Motors (NYSE:GM) -8% – Shares of GM and other U.S. automakers fell after President Donald Trump announced a 25% tariff on auto imports, set to take effect next week. Ford (F) fell 4.7%, and Stellantis (STLA) declined 3%. According to Trump's presidential proclamation, tariffs will be collected starting April 3 at 12:01 a.m. ET, with additional levies on auto parts including engines, transmissions, powertrain components, and electrical systems beginning in May. The White House clarified that these tariffs apply to foreign-made cars and light trucks and are expected to generate over $100B in annual revenue. Trump emphasized that vehicles built in the U.S. will be exempt and vowed strict enforcement on imported parts.
• 3D Systems (NYSE:DDD) -19% - Shares tumbled after the company missed Q4 consensus. The company expects FY2025 revenue between $420M and $435M, reflecting flat to modest growth when excluding Geomagic revenue, falling short of the $461.91M consensus. The company expects a non-GAAP gross profit margin of 37%-39%, operating expenses between $200M and $220M, and aims for adjusted EBITDA to be breakeven or better by Q4 2025.
• GameStop (NYSE:GME) -12% - Shares plunged after the company announced a $1.3B private offering of 0.00% convertible senior notes due 2030 with an option for initial purchasers to buy an additional $200M in notes within 13 days. These unsecured notes will not bear regular interest or accrete in value. GameStop plans to use the proceeds for general corporate purposes, including bitcoin acquisitions.
• MicroVision (NASDAQ:MVIS) -7% - Shares fell after the company posted disappointing Q4 results, with revenue tumbling 66.7% Y/Y. The weaker-than-expected earnings report added to investor concerns despite the company's efforts to improve its financial position. Following the quarter, MicroVision secured an agreement to raise up to $17M in new equity capital and reduced its obligations under a $75M senior secured convertible note with High Trail Capital by converting $12.25M of the note into common stock. The company now has access to $161M in capital, but market conditions remain a key factor in its financial flexibility.