🟢 On Holding is trading 10% up today after announcing first-ever $1 billion buyback

On Holding is trading 10% up at $30.10 after announcing its first-ever share repurchase program, authorizing up to $1 billion through 2029.

• Targets include high-teens constant-currency sales growth and at least CHF 5.6 billion in 2029 revenue.
• The company also targets a 65%+ gross margin and a 22%+ adjusted EBITDA margin.
• The announcement directly drove the sharp September 22 rally. Trading activity is elevated during the open session, with no volume figure provided.