Maryland businesses faced rising costs, federal workforce cuts and new tariffs in 2025, but a statewide survey shows cautious optimism for early 2026. Firms reported weaker performance yet increased i...

Investing.com -- ASM International reported a 4% year-on-year decline in new orders in the second quarter of 2025, as mixed market conditions weighed on demand across segments. New orders fell to €702.5 million at constant currencies, down 10% from the first quarter, largely due to lower advanced logic/foundry bookings. The company added that the “y-o-y decrease was mainly due to the lumpy nature of quarterly order intake and compared to a relatively high memory contribution in Q2 2024.” “The market environment continued to show a mixed picture in the second quarter,” said ASM CEO Hichem M’Saad. While AI-related demand supported growth in leading-edge logic/foundry and HBM-related DRAM, other segments remained sluggish. Despite the drop in bookings, revenue rose 23% year-on-year at constant currencies to €835.6 million, outperforming ASM’s prior guidance. Foundry led sales, followed by memory and logic, with China also contributing more than expected. Gross margin came in at 51.8%, down from Q1’s 53.4%, but above the 49.8% margin recorded a year earlier. Operating profit rose to €258.5 million, with adjusted net earnings reaching €173 million. The company also booked a €34 million reversal of a prior impairment on its stake in ASMPT, as market valuations improved. Looking ahead, ASM expects third-quarter revenue to be flat or slightly lower than Q2, with a book-to-bill ratio projected below one. Full-year revenue growth is forecast to land around the midpoint of the 10% to 20% guidance range, with strong sales in the 2nm GAA logic/foundry node expected to remain a key driver. China’s equipment sales are now projected to hit the upper end of the previously forecast range, though bookings there are expected to decline in the second half.

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Myer, a leading Australian department store chain, has reported a sales decline due to cautious consumer spending and various economic pressures. Shoppers are prioritizing savings and seeking discounts, particularly during key shopping periods like Christmas. Inflation and rising living costs have further contributed to consumers' reluctance to spend on non-essential items.