Premarket movers: Meta Jumps on AI agent launch, NETGEAR surges

Investing.com - U.S. stock futures traded below the flatline on Wednesday as oil prices climbed above $100 a barrel and investors awaited inflation data that could reinforce expectations for the Federal Reserve to raise interest rates later this month.

By 06:13 ET (10:13 GMT), S&P 500 futures had fallen 19 points, or 0.3%, while Nasdaq 100 futures were down 134 points, or 0.5%. Dow Jones futures had slipped 206 points, or 0.4%.

The rise in oil prices has added to concerns about inflation, potentially complicating the Federal Reserve’s policy outlook. Higher energy costs can feed into broader prices for consumers and businesses, while stronger inflation could make investors more cautious about interest-rate-sensitive growth stocks.

Here are the biggest premarket movers this morning.

Meta Platforms shares surged 3.6% in premarket trading after the company officially launched Muse, its autonomous artificial intelligence personal agent on Tuesday evening.

Powered by Meta’s proprietary Muse Spark model, Muse is designed to independently carry out tasks such as booking travel, sending emails, completing web forms and managing payments across iOS, Android and a dedicated web application.

The launch also marks a significant step in Meta’s efforts to monetize its artificial intelligence investments. The company introduced its first tiered AI subscription model, offering plans priced at $20 and $100 per month alongside a free tier.

Evommune shares fell 13.9% in premarket trading to $11.26 after the biotechnology company said its EVO756 drug candidate failed to meet the primary and secondary endpoints in a Phase 2b trial evaluating the treatment in adults with moderate-to-severe atopic dermatitis.

The randomized, double-blind, placebo-controlled study enrolled 121 adults over a 12-week treatment period. The trial failed to meet its primary endpoint, which measured the percentage change in the Eczema Area and Severity Index score from baseline at Week 12.

Evommune said it will not advance EVO756 in atopic dermatitis, although it plans to continue Phase 2b development of the compound as a potential treatment for migraine prevention.

Braze shares tumbled 11.5% before the open after the customer engagement software company delivered better-than-expected fiscal second-quarter results but issued weaker-than-expected profit guidance for the current quarter.

Braze reported adjusted earnings per share of $0.19 for fiscal Q2 2027, above the $0.15 analyst consensus, while revenue rose 26% year over year to $227.2 million, beating expectations of $220.23 million.

However, the company’s outlook overshadowed the earnings beat. Braze guided for fiscal third-quarter adjusted EPS of $0.13 to $0.14, whose midpoint was roughly 15% to 16% below the analyst consensus of $0.16.

Investors also focused on signs of moderating growth. Revenue growth slowed to 26.2% in the second quarter from 30.2% in the first quarter, while free cash flow margins declined sequentially and customer growth also showed signs of slowing.

Canaccord was among the more positive voices, raising its price target on Braze to $37 while maintaining a Buy rating, citing record free cash flow and strong billings growth.

NETGEAR shares jumped 8.9% in premarket trading after the FCC formally banned the import of all new consumer routers manufactured outside the United States, citing national security risks associated with foreign supply chains and cybersecurity vulnerabilities.

The regulatory action applies to new device models seeking FCC certification and could restrict product launches by many competitors that rely on overseas manufacturing.

NETGEAR could benefit from the policy shift because it had already secured a conditional FCC approval exemption, allowing it to continue providing firmware updates and support for its existing router lineup while competitors adjust to the new restrictions.

The company has also seen momentum in its enterprise business, which recorded 7.7% year-over-year growth and an all-time-high non-GAAP gross margin of 54.1% in its most recent quarter.

You May Also Be Interested In

• EU proposes new rules to simplify public tenders, promotes "Buy European"
• Trump demands Bombardier quit US market unless it builds planes there
• How big a risk are rates to the AI boom?