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Magna cuts FY24 revenue view to $42.5B-$44.1B from $42.6B-$44.2B

Consensus $43.28B. Narrows FY24 adjusted EBIT margin to 5.4%-5.8% from 5.4%-6%. Cuts FY24 capital spending view to $2.3B-$2.4B from $2.4B-$2.5B.

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