Premarket movers: Mag 7 stocks are mostly higher: Meta released its most powerful artificial intelligence model yet. Shares are up about 0.7%; elsewhere Tesla +1.2%, Alphabet +0.3%, Amazon +0.2%, Microsoft +0.5%, Nvidia -0.4%, Apple -0.2% Advasa (ADBT) falls 11% after the Japan-based financial technology company, which is listed in the US, said CFO Katharyn Field had resigned. Argan (AGX) rises 6% after the construction company reported revenue for the second quarter that beat the average analyst estimate. Broadcom (AVGO) falls 3% after the chipmaker’s results and forecast were seen as underwhelming. The company predicted a boom in artificial intelligence chip sales over the next two years. Campbell’s (CPB) falls 5% after the food company cut its dividend and provided disappointing guidance. Ciena (CIEN) rises 1% after the maker of equipment used by telecom companies posted third quarter results. Envista (NVST) climbs 2% after JPMorgan upgraded the dental company to overweight, saying the firm is entering its investor day event later this month from a position of improved execution. Hewlett Packard Enterprise (HPE) falls 4% after reporting increasing sales that didn’t meet high expectations from investors. NetApp (NTAP) is down 8%, even after the data storage and management company raised its full-year forecast. The stock has been a strong performer this year, up nearly 70% as of its last close. Snowflake (SNOW) jumps 24% after the software company’s second-quarter results beat expectations and the company raised its full-year forecast for product revenue. Analysts note another quarter of product revenue acceleration driven by AI demand. Ultragenyx Pharmaceutical (RARE) plunges 44% after the biotech’s experimental drug aimed at treating a rare genetic disorder failed to meet its primary endpoint in a study. The disappointment prompted several brokerages to downgrade their ratings on the stock. Victoria’s Secret (VSXY) falls 18% after the company boosted guidance but showed a slower pace of growth.