Pinkpeony, Magnolia leaves are prone to frost damage and we had some heavy frosts over the last few weeks.
My way would be to forget the spray feed and use a good mulch of hummus rich soil around the base of the plant then wait, it should repair itself.
Depending on which type you have their needs vary Neutral or acid soil and some will grow in alkaline soils but all should be well drained.
Shelter from prevailing winds and some shade are needed, Mine gets early morning sun and shaded from the winds it has done well.
hope this helps.
Frank.