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Dutch chip equipment maker ASML (ASML) - Get ASML Holding NV ADR Report was down 12.2% in preopen Island trading after it said it expects a first-half loss due to a sharp drop at its U.S. unit.

The company said that customers have been pushing back orders during the past month and that a recovery late in the year seems unlikely. ASML added that it will cut costs related to staffing and capital expenditures.

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