CMB Stock News Of The Day 📰🗞️🗞️📈📉

👟 “On Running Shares Leap After Company Raises Outlook for Revenue and Gross Margins”🚨🚨🚨

Shares of On Holding (ONON $43.42, +23.42%) sprinted higher Tuesday morning—up roughly 9% as of 6 a.m. ET—after the Swiss running shoe company raised its full-year revenue and margin guidance following a record-breaking third quarter.

The company reported net sales of 794.4 million Swiss francs (~$994 million), handily topping analyst expectations of $960 million, according to Bloomberg. Adjusted earnings per share came in at CHF 0.43 ($0.54), beating Wall Street’s consensus of $0.34.

Building on that strength, On lifted its annual sales growth outlook to 34%, up from 31%, and increased its gross margin forecast to 62.5% from a previous range of 60.5%–61%.

In a statement, the company credited “remarkable athlete achievements, cultural moments elevating On globally, and the launch of its inspiring holiday campaign” for fueling its “exceptionally high” momentum.

Despite the latest surge, On’s shares remain down more than 30% year-to-date, as investors weigh whether the company can sustain its growth pace in an increasingly competitive athletic footwear market.