On Holding rises after announcing $1 billion share buyback plan

** US-listed shares of sportswear brand On Holding 49G.BN, up 5.4% at $28.80 premarket

** Co authorises a share repurchase programme of up to $1 billion through the end of 2029

** Ahead of investor day, co also reiterates 2026 forecast for low-20% constant-currency sales growth, a gross margin of at least 65%, and an adjusted EBITDA margin of between 19.5% and 20%

** Also sees 53 million Swiss francs (~$ 65 million) in tariff refunds in the current quarter, and a net sales growth rate of around 17% in constant currency, vs analysts' expectations of a 16.5% rise -- data compiled by LSEG

** Up to last close, stock has fallen ~41% YTD

($1 = 0.8209 Swiss francs)