Premarket Movers: Meta Rises on AI Agent Launch, NETGEAR Climbs After FCC Rule

U.S. equity futures traded below the unchanged mark Wednesday morning, pressured by crude prices holding above $100 a barrel and by investors positioning for inflation data that could bolster the case for the Federal Reserve to hike interest rates later this month.

At 06:13 ET (10:13 GMT), S&P 500 futures were lower by 19 points, or 0.3%, and Nasdaq 100 futures declined 134 points, or 0.5%. Dow Jones futures fell 206 points, or 0.4%.

The latest jump in oil prices has intensified inflation worries, potentially complicating the Fed's policy path. Energy costs feed into a wide range of consumer and corporate prices, and firmer inflation tends to make investors more wary of rate-sensitive growth equities.

Following are the most notable premarket movers in Wednesday's session.

Meta Platforms jumped 3.6% before the bell after the company formally unveiled Muse, an autonomous AI personal assistant, on Tuesday evening.

Built around Meta's proprietary Muse Spark model, Muse can independently handle tasks like travel bookings, email composition, web form submission and payment management on iOS, Android and a dedicated web app.

The rollout also advances Meta's push to monetize its AI investments, with the debut of the company's first tiered AI subscription plans. Pricing starts at $20 per month and $100 per month, alongside a free tier.

Evommune dropped 13.9% in premarket action to $11.26 after the biotech disclosed that its investigational drug EVO756 did not meet primary or secondary endpoints in a Phase 2b trial for adults with moderate-to-severe atopic dermatitis.

The randomized, double-blind, placebo-controlled study included 121 adults treated over a 12-week period. The primary endpoint, which measured the percentage change from baseline in the Eczema Area and Severity Index score at Week 12, was not met.

Evommune will not take EVO756 further in atopic dermatitis, but it intends to continue Phase 2b development of the compound as a potential migraine-prevention therapy.

Braze fell 11.5% in premarket trading after the customer engagement software firm posted fiscal second-quarter results that topped estimates but accompanied them with softer-than-expected profit guidance for the current quarter.

For fiscal Q2 2027, Braze reported adjusted earnings of $0.19 per share versus the $0.15 analyst consensus, while revenue grew 26% year over year to $227.2 million, above the expected $220.23 million.

The outlook, however, overshadowed the earnings beat. Braze guided to fiscal third-quarter adjusted EPS of $0.13 to $0.14, putting the midpoint roughly 15% to 16% below the $0.16 consensus.

Attention also shifted to signs of moderating growth: second-quarter revenue growth eased to 26.2% from 30.2% in the prior quarter, free cash flow margin declined sequentially, and customer expansion also appeared to cool.

Canaccord struck a relatively upbeat tone, lifting its Braze price target to $37 while keeping a Buy rating on the strength of record free cash flow and solid billings growth.

NETGEAR climbed 8.9% in premarket trading after the FCC officially prohibited imports of all new consumer routers built outside the U.S., citing national-security concerns tied to foreign supply chains and cybersecurity vulnerabilities.

The rule applies to new device models seeking FCC certification and could restrict product launches by rivals that rely on manufacturing abroad.

NETGEAR stands to 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 is also building traction in its enterprise segment, which posted 7.7% year-over-year growth and a record non-GAAP gross margin of 54.1% in its most recent quarter.