0953 GMT - ASM International's weakness in the second half of the year is expected to continue, leading to cuts in estimates for 2026, Jefferies' Janardan Menon says in a research note. The Dutch supplier of semiconductor-making equipment's third-quarter guidance for a 0% to 5% on-quarter decline in constant currency represents a fall of 5.5% when measured in euro, which in turn is 5% below Jefferies' estimates, Menon says. Meanwhile, guidance for the second half expects flat revenues, representing a 7% decline in euro terms versus the prior-year period, 5.5% below Jefferies estimates. Second-quarter sales were in line with expectations, while orders were 16% below, he says. Shares trade 8.8% lower at 459.30 euros. (nina.kienle@wsj.com)

(END) Dow Jones Newswires

July 23, 2025 05:53 ET (09:53 GMT)

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