Netflix said it expects revenue and profit gains to slow in the third quarter, adding to investors' fears that its growth is topping out. The streaming company forecast revenue growth of 11.7%, which would be its smallest year-on-year increase of any quarter since late 2023. Netflix executives emphasized the company still has room for growth. In the latest quarter, revenue rose more than 13%, roughly in line with analysts' expectations. Shares declined 9% to $67.68 in late trading.
SpaceX postponed a planned test flight of its Starship rocket. "Standing down from today's flight test attempt," the company said in a post on X. Chief Executive Officer Elon Musk wrote on X that some of the spacecraft's engines failed to start, which triggered an automatic abort of the launch. "Next launch attempt hopefully in a few days," he wrote. Shares were down 3.1% to $126.99 in after-hours trading.
Alcoa cut its full-year alumina guidance, citing issues at its Pinjarra, Australia refinery. The company said it now expects to produce between 200,000 and 300,000 fewer metric tons of alumina in 2026, for total production of 9.5 million to 9.6 million metric tons. Alumina shipments are also expected to be lower by 300,000 to 400,000 metric tons compared with previous guidance. The reductions were driven by an outbreak of organic compounds in bauxite, a precursor to alumina, which was compounded by a cyclone in the area, executives said. Shares were down 3.3%, at $45.30, in late trading.
Regenxbio said it would sell $100 million worth of stock in a public offering. The company said it intends to give the underwriters for the offering a 30-day option to buy up to an additional 15% of the shares sold in the offering. The stock fell 15%, to $9.51, in after-hours trading.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
July 16, 2026 19:20 ET (23:20 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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