Micron Technology shares fell Tuesday after the chip company said it was reducing its guidance for fourth-quarter revenue. Micron said in a filing that it expects revenue in the period “may come in at or below the low end of the revenue guidance range” the company provided during its earnings call in late June. At the time, Micron said it expects revenue of $6.8 billion to $7.6 billion. Read More...
Reuters
Automakers say U.S. Senate bill will jeopardize 2030 EV targets
WASHINGTON (Reuters) -A group representing General Motors, Toyota Motor, Volkswagen and other major automakers said a $430 billion bill approved Sunday by the U.S. Senate will put achieving U.S. electric-vehicle adoption targets for 2030 in jeopardy. “Unfortunately, the EV tax credit requirements will make most vehicles immediately ineligible for the incentive,” said the Alliance for Automotive Innovation’s chief executive, John Bozzella, adding the bill “will also jeopardize our collective target of 40-50% electric vehicle sales by 2030.” The group had warned Friday that most EV models would not qualify for a $7,500 tax credit for U.S. buyers under the bill.
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