Amazon.com Inc. plans to launch an online storefront for low-priced apparel and home goods to be shipped directly from China. The Seattle-based e-commerce giant aims to counter the rise of discount upstarts like Temu and Shein. Annabelle Droulers reports on Bloomberg Television. Read More...
Micron Stock Slumps Despite Strong Earnings
Micron Technology shares are losing ground despite the memory chip company reporting better-than-expected financial results for the quarter. Revenue guidance for the company’s August quarter matched estimates—and investors were likely expecting more. For the fiscal third quarter ended in May, Micron reported revenue of $6.8 billion, up 82% and ahead of both the midpoint of the company’s guidance range at $6.6 billion and the Wall Street consensus as tracked by FactSet at $6.67 billion.
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