Axios

Sometimes the best way to deliver bad news is to just rip off the Band-Aid.

• Perhaps that's why semiconductor equipment maker ASML, which was slated to deliver results tomorrow, accidentally posted them today.

By the numbers: The Dutch company's third-quarter bookings came in around half of what analysts were expecting, Bloomberg noted.

• The company also lowered its 2025 guidance.

The big picture: It's a tale of two chips. Demand for advanced chips feeding artificial intelligence models remains sky high.

• But in other areas, for legacy chips used in computer, industrial and automotive applications, customers continue to dial back.

🚑 Clinical Care Medical Centers, a Miami-based primary care system owned by Sun Capital Partners, filed for Chapter 11 bankruptcy protection and said it would sell itself to an affiliate of Humana (NYSE: HUM). axios.link/3UdwMQ7

• True Value, a Chicago-based home improvement retailer and wholesaler backed by Acon Investments, filed for Chapter 11 bankruptcy protection, and received a stalking horse bid from Indiana's Do It Best Corp. axios.link/3NqlwME

Starting in tax season 2025, more taxpayers will be able to file their taxes online for free with the Internal Revenue Service's expanding Direct File program.

Why it matters: The program, which the IRS rolled out in 12 states this year, could reshape how millions of Americans pay and prepare their taxes.

Some nations prosper while others are mired in poverty. Three scholars were awarded the Nobel prize Monday for helping explain why, showing that colonial societies built on extraction of wealth became poorer in the long run.

The big picture: Daron Acemoglu and Simon Johnson of MIT and James Robinson of the University of Chicago won the prize "for studies of how institutions are formed and affect prosperity," particularly the creation of political and economic traditions that fuel broad-based wealth.

Columbus Day is the federal holiday on the second Monday in October. But what the state holiday is called — Columbus Day, Indigenous Peoples' Day or something else — depends on where you live.

Why it matters: Efforts to change the focus of the holiday from celebrating Christopher Columbus to the contributions of Native Americans are ongoing.