Stock price plummets as company reports disappointing earnings

  • On Holding stock drops after surprise loss and missed sales expectations
  • Adjusted loss of 0.05 Swiss Franc per share for Q4 2023
  • Revenue of CHF 447 million falls short of estimates
  • Stock price drops 13% in premarket trading
  • Management blames currency impacts for the results

On Holding stock experienced a significant drop in value after the company reported a surprise loss for the fourth quarter of 2023. The adjusted loss of 0.05 Swiss Franc per share was far below analysts’ expectations of 13 cents in profit. Additionally, the company’s revenue of CHF 447 million fell short of estimates. As a result, the stock price plummeted by 13% in premarket trading. During the conference call for investors, management attributed the poor results to currency impacts. On Holding, known for its premium sports brand and celebrity endorsements, had previously been a Barron’s stock pick in September.

Factuality Level: 2
Factuality Justification: The article contains irrelevant information, repetitive details, and lacks depth in analysis. It also fails to provide a comprehensive view of the situation, focusing more on the stock price drop and earnings report without delving into the broader context or potential reasons behind the company’s performance.
Noise Level: 2
Noise Justification: The article provides relevant information about On Holding’s stock performance, earnings report, and the reasons behind the stock drop. It stays on topic and supports its claims with specific data and examples. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people.
Financial Relevance: Yes
Financial Markets Impacted: On Holding stock
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the financial performance of On Holding stock and its impact on the market.
Public Companies: On Holding (N/A)
Key People: Roger Federer (Brand Ambassador), Gisele Bündchen (Brand Ambassador)

Reported publicly: www.marketwatch.com