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Insider Trading

On Holding Ag Insider Bought Shares Worth $2,198,099, According to a Recent SEC Filing

David Michael Allemann, Director, Executive Officer and Co-Chief Executive Officer, on May 14, 2026, executed a purchase for 60,000 shares in On Holding Ag (ONON) for $2,198,099. Following the Form 4 filing with the SEC, Allemann has control over a total of 2,841,108 Class A common shares of the company, with 2,841,108 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1858985/000185985326000004/xslF345X05/form4-05152026_120551.xml

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Insider Trading

On Holding Ag Insider Bought Shares Worth $2,198,102, According to a Recent SEC Filing

Caspar Felix Coppetti, Director, Executive Officer and Co-Chief Executive Officer, on May 14, 2026, executed a purchase for 60,000 shares in On Holding Ag (ONON) for $2,198,102. Following the Form 4 filing with the SEC, Coppetti has control over a total of 2,375,855 Class A common shares of the company, with 2,375,855 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1858985/000185991226000004/xslF345X05/form4-05152026_120511.xml

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Wire

On's Continued Focus on Innovation, Performance to Drive Sales Growth, Earnings Beats, UBS Says

On's (ONON) continued focus on innovation, performance, athletes, sports, and direct-to-consumer selling while maintaining a premium brand position could deliver industry-leading sales growth and earnings beats, UBS Securities said Tuesday in a note.UBS forecasts On recording 18%, 20%, and 29% of 5-year sales growth, adjusted EBITDA, and earnings per share compound annual growth rates, respectively, and expects strong growth to continue from there, according to the note.The brand is gaining traction with younger customers, and its expansion within this demographic is an under-appreciated long-term growth driver, the brokerage said.The company maintained its full-year sales growth guidance at 23%, despite delivering 26% top-line growth in Q1. UBS sees this as a sign of caution, given the macro uncertainty, rather than an indication of weaker demand in H2, the brokerage added.On's nearly $0.1 Q1 earnings per share beat versus the UBS estimate drives most of the brokerage's $0.15 increase to its full-year EPS estimate, according to the note.UBS kept a buy rating on On with a price target of $85.Price: $35.52, Change: $+1.69, Percent Change: +5.00%

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Wire

Top Midday Stories: April CPI Rises 3.8% YoY, Highest Level Since May 2023; EBay Board Rejects GameStop's Acquisition Proposal

All three major US stock indexes were down in late-morning trading after April inflation data came in hotter than expected.The US seasonally adjusted consumer price index rose by 0.6% in April, as expected and following a 0.9% increase in March, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, rose by 0.4%, higher than the consensus estimate of a 0.3% increase. Core CPI rose by 0.2% in March. Year over year rates for overall and core CPI rose to 3.8% and 2.8%, respectively from 3.3% and 2.6% in March. The overall year-over-year figure was the highest recorded since May 2023.In company news, eBay (EBAY) said Tuesday its board rejected GameStop's (GME) unsolicited, non-binding $55.5 billion buyout offer. The board concluded the company is better positioned to generate growth and shareholder value as a standalone business under its existing management, eBay said. Shares of eBay were up 0.2%, while GameStop shares were down 1.9% around midday.On Holding (ONON) reported Q1 adjusted earnings Tuesday of 0.37 Swiss francs ($0.47) per diluted share, up from 0.21 francs a year earlier and above the FactSet consensus analyst estimate of 0.27 francs. Net sales were 831.9 million francs, up from 726.6 million francs a year ago and above the FactSet consensus of 818.5 million francs. For full-year 2026, the company said it expects net sales to grow by at least 23% year over year on a constant-currency basis, implying reported sales of at least 3.51 billion francs at current spot rates, it said. On Holding shares were down 4.6%.Under Armour (UAA) reported a fiscal Q4 adjusted loss Tuesday of $0.03 per diluted share, narrowing from a loss of $0.08 a year earlier but below the FactSet consensus of a loss of $0.02. Fiscal Q4 net revenue was $1.17 billion, down from $1.18 billion a year ago but matching the FactSet consensus. For fiscal 2027, the company said it expects adjusted EPS of $0.08 to $0.12 on a slight decline in revenue. Analysts polled by FactSet expect adjusted EPS of $0.23 on revenue of $5.05 billion. Under Armour shares were down 17%.Wendy's (WEN) faces a potential take-private bid from Trian Fund Management, which is seeking investor backing for a takeover, the Financial Times reported Tuesday, citing people familiar with the matter. Wendy's shares were up 15%.Alphabet's (GOOG, GOOGL) Waymo is recalling 3,791 robotaxis in the US due to a software issue that could likely cause the vehicles to drive onto flooded roads, Reuters reported Tuesday, citing the National Highway Traffic Safety Administration. The recall pertains to certain fifth- and sixth-generation automated driving systems in the robotaxis, the report said. Alphabet's Class C and Class A shares were down 0.5% and 0.4%, respectively.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday on Bloomberg TV that financial markets may be showing "a little bit too much exuberance" given current inflation risks and geopolitical tensions. JPMorgan shares were up 0.5%.Price: $108.27, Change: $+0.14, Percent Change: +0.13%

$EBAY$GME$GOOG$GOOGL$JPM$ONON$UAA$WEN
Research

Research Alert: On Holding Posts Double Beat On Strength In Asia

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:On Holding reported net sales of CHF831.9M vs. CHF727M, CHF10M above estimates, marking 14.5% reported growth (26.4% constant currency). Adjusted EPS surged 68.2% to CHF0.37 vs. CHF0.22 in the prior year and CHF0.10 above consensus, while gross margin expanded 430 bps to 64.2% despite U.S. tariff headwinds. We view the post-earnings share weakness as a buying opportunity and believe On remains the top name in footwear given its execution and brand strength. The company raised full-year gross margin guidance to at least 64.5% while reiterating constant currency growth of at least 23%. Geographic performance was broad-based, led by Asia-Pacific's 44.4% growth, while both DTC and Wholesale channels showed healthy momentum. The continued margin expansion demonstrates On's pricing power and operational leverage, with apparel emerging as a key growth driver at 45.1% growth. We expect the company to maintain its premium positioning while expanding globally under its new co-CEO leadership structure.

$ONON
Stocks Down Pre-Bell as Trump Warns US-Iran Ceasefire Fragile; Inflation Data on Deck
US Markets

Stocks Down Pre-Bell as Trump Warns US-Iran Ceasefire Fragile; Inflation Data on Deck

US equity futures were pointing lower on Tuesday as investors assess President Donald Trump's latest comments on the US-Iran ceasefire and await a key inflation report.The S&P 500 declined 0.3%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.7% in premarket activity. The indexes finished the previous trading session up, with the S&P 500 and the Nasdaq logging new closing highs.The ceasefire agreement between the US and Iran is on "massive life support," Trump told reporters on Monday, according to several media outlets. "I would call it the weakest, right now, after reading that piece of garbage they sent us - I didn't even finish reading it," Trump reportedly said.Trump on Sunday rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the Strait of Hormuz. Tehran's proposal, delivered via mediator Pakistan, reportedly sought an immediate end to hostilities, the lifting of the US naval blockade of its ports and assurances against further aggression.West Texas Intermediate crude oil increased 3.2% to $101.16 a barrel before the opening bell, while Brent advanced 2.9% to $107.27.Trump is scheduled to arrive in China Wednesday for a high-stakes state visit, with talks set to take place Thursday and Friday."The US will want China to use its influence with Tehran, especially because China is a major buyer of Iranian oil," Saxo Bank Chief Investment Strategist Charu Chanana said in a report Monday. "China, meanwhile, wants energy security and stable shipping lanes, but it is unlikely to appear as if it is acting under US instruction."The consumer price index report for April is scheduled for an 8:30 am ET release. Official data are expected to show that consumer inflation rose 0.6% and 3.7% on sequential and annual bases last month, according to a Bloomberg-compiled consensus.Treasury yields were trending higher in premarket action, with the two-year rate rising 2.4 basis points to 3.97% and the 10-year rate adding 1.9 basis points to 4.43%.The National Federation of Independent Business small business optimism index posted a 0.1-point increase for April to 95.9.Sea (SE), JD.com (JD), On Holding (ONON), Tencent Music Entertainment (TME), Aramark (ARMK) and Under Armour (UA, UAA) are scheduled to report their latest financial results before the bell, among others.Gold declined 0.6% to $4,701 per troy ounce, while bitcoin fell 1.5% to $80,679.

Dow JonesNasdaq CompositeS&P 500$ARMK$JD$ONON$SE$TME$UA$UAA
Sneaker Maker On Holding First-Quarter Results Top Street Views
US Markets

Sneaker Maker On Holding First-Quarter Results Top Street Views

On Holding (ONON) reported better-than-expected first-quarter results on Tuesday, while the Swiss sneaker maker reiterated its full-year sales growth outlook on a constant-currency basis.The company posted adjusted earnings of 0.37 Swiss francs ($0.47) per class A share, up from 0.21 francs a year earlier, topping the FactSet-polled consensus of 0.27 francs. Sales climbed 15% to 831.9 million francs, ahead of Street's view for 818.5 million francs.On's New York Stock Exchange-listed shares rose 3.5% in the most recent premarket activity.On continues to project sales to grow by at least 23% year over year for 2026 on a constant-currency basis, implying a reported figure of 3.51 billion francs. It previously saw reported sales at 3.44 billion francs, while the current consensus on FactSet is for 3.54 billion francs.Gross profit margin is expected to be at least 64.5% for the current year, up from the prior forecast of 63%. The guidance continues to incorporate a 20% incremental tariff rate on products imported to the US from Vietnam and excludes any potential tariff refunds.In February, the US Supreme Court invalidated President Donald Trump's reciprocal tariffs imposed under the International Emergency Economic Powers Act. Following that decision, Trump announced a 10% global tariff, which he later said would rise to 15%. A US trade court recently ruled that Trump's 10% global tariffs are not justified under a 1970s trade law.Shoe revenue advanced 12% to 763.7 million francs in the first quarter, while apparel and accessories jumped 45% and 71%, respectively. Net sales in the Americas gained 3.1% to 450.7 million francs. Sales in Europe, the Middle East, and Africa inclined 23%, while Asia-Pacific soared 44%.Sales in the direct-to-consumer channel rose 16% to 322.3 million francs, while the wholesale channel saw growth of 13% to 509.6 million francs."The results we present today - highlighted by record net sales and a gross profit margin of 64.2% - demonstrates our unique ability to scale rapidly while expanding our profitability," outgoing Chief Executive Martin Hoffmann said in a statement. "I am incredibly proud to hand over at a time when On is stronger than ever, with clear momentum, an extraordinary team and an exciting future ahead."Earlier this year, On appointed co-founders David Allemann and Caspar Coppetti as co-CEOs, effective May 1. Hoffmann will remain as an advisor to the company through March 2027.

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Wire

On Holding Likely to Post Q1 Sales Beat on Solid Trends, UBS Says

On Holding (ONON) is likely to post Q1 sales growth beat and raise its 2026 guidance on solid topline trends, UBS said in a Wednesday research report. The company is due to release Q1 results on May 12.The sentiment around the stock appears bearish amid the recent CEO change as well as high oil prices weighing much more on its margin guidance than expected, analysts wrote.Channel checks indicated that the company's Q1 digital trends were solid with total and unique global visits to its site rising 20% and 21%, respectively, while European Union spend likely grew 35%, according to the note.For Q1, UBS expects sales growth of 15.4%, but forex remains a material headwind, according to the note. For 2026, the brokerage said it expects the company to raise its sales growth guidance by 100 basis points.The brokerage maintained its buy rating on the stock and price target of $85 per share.Price: $34.95, Change: $-0.48, Percent Change: -1.35%

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US Markets

Most Softline Retailers Poised to Meet or Top Quarterly Earnings Views, UBS Says

Most US softline retailers are expected to report upcoming quarterly earnings either in line or above Wall Street's estimates, while consumer spending could rise notably if the Middle East conflict ends soon, UBS Securities said Monday.A survey conducted by the brokerage during the first two weeks of this month showed that consumer spending intentions remained "good," particularly for apparel and footwear despite headwinds from the US-Israel war with Iran that started at the end of February, UBS analysts, including Jay Sole said in a note to clients."We believe the market is overestimating the negative impact of high oil prices on softline company margins," UBS said. "We see most softline companies either meeting or beating (first-quarter) expectations during this upcoming earnings season."The war, which has impacted several Middle East countries, has sent energy prices soaring amid the closure of the Strait of Hormuz, the world's most important chokepoint for crude flows.US retail gasoline prices averaged $4.042 per gallon Monday, compared with $3.151 a year ago, according to data from AAA, a travel organization that tracks fuel prices in the country."US consumers' view of the economy has been somewhat impacted (month on month) by the Middle East conflict and rising gas prices," the UBS analysts said Monday. "Yet, the data show potential for a strong pop in US consumer spending if the Middle East conflict ends soon and gas prices return to pre-conflict levels. This is a main reason we remain bullish."On Holding (ONON), Deckers Outdoor (DECK), Gildan Activewear (GIL), Burlington Stores (BURL), Levi Strauss (LEVI), Ralph Lauren (RL), and TJX (TJX) are among the softline stocks that UBS said it likes and rates as buy. The brokerage said it likes these stocks over several big names such as Nike (NKE) and Lululemon Athletica (LULU), according to the note."We believe the market is significantly underestimating the potential for (artificial intelligence) to positively impact softline companies' sales and margins," the analysts said.On Saturday, Iran took back control the Strait of Hormuz after temporarily opening the waterway to commercial vessels Friday. The US and Iran have accused each other of violating a two-week ceasefire announced April 7, leaving the situation in the Middle East in limbo.Price: $37.24, Change: $+0.29, Percent Change: +0.78%

$BURL$DECK$GIL$LEVI$LULU$NKE$ONON$RL$TJX