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On Running jumps after raising outlook for revenue and gross margins

Shares of On Holding are sprinting ahead this morning, up around 9% as of 6 a.m. ET, as the Swiss running shoe company today raised its full-year guidance after reporting record net sales and profitability for the third quarter.

On revenues came in at CHF 794.4 million, or ~$994 million, for the quarter, where analysts had expected $960 million, while adjusted earnings per share came in CHF 0.43, or $0.54, compared to Wall Street’s $0.34 consensus estimate, per Bloomberg. The company now expects annual sales to grow 34% from 2025, up from the previous 31% estimate, with On’s forecast for its gross profit margins now set at 62.5%, up from 60.5-61%.

On said that “remarkable athlete achievements, cultural moments elevating On globally, and the launch of its inspiring holiday campaign” have all helped fuel its “exceptionally high” momentum in recent weeks. Although buzz around the brand might still be building and sales continue to race ahead of rivals, shares are still down more than 30% in the year to date, even with today’s bump.

Hoka and On annual sales chart — Sherwood News

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Oklo reports Q3 earnings

Nuke startup Oklo reports disappointing Q3 results

The retail trader favorite was up more than 400% in 2025 before reporting its latest earnings.

Matt Phillips16h

Tasha Matsumoto

Despite a tech tumble, stocks rise on hopes that the government shutdown will end soon

Every sector was higher except for tech, which dragged down the Nasdaq 100.

DEL MAR, CA - SEPTEMBER 18: A woman competes in the steer riding event at the gay-oriented 16th Annual San Diego Rodeo, on September 18, 2004 in Del Mar, California.

Michael Burry has some concerns about AI accounting

Not enough appreciation for depreciation, per the “Big Short” investor.

"The Big Short" New York Premiere - Outside Arrivals

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AMD rallies after CEO Lisa Su says AI business to grow more than 60% a year for 3 to 5 years

Shares of Advanced Micro Devices are up around 5.3% as of 5:05 a.m. ET, after CEO Dr. Lisa Su unveiled optimistic medium-term revenue guidance at the company’s Financial Analyst Day yesterday.

Over the next three to five years, her outlook is for compounded annual revenue growth of over 35% for AMD as a whole, with growth north of 60% for its data center business.

AMD 3-5 year targets — Source: AMD

With a pinch of salt about how predictions are hard, especially about the (further out) future, the consensus estimate for AMD’s data center revenues in 2028 is $51.1 billion. If we use just 60% compounded annual growth and assume AMD hits its year-end estimate for about $16.26 billion, that would put the company’s 2028 AI sales around $66.6 billion.

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Matt Phillips19h

Forget AI — if you’re looking for growth, check out natural gas

Everybody knows about tech’s fast growers.

And Palantir’s 63% year-over-year Q3 sales growth rate was impressive. So was Robinhood Markets, which saw a 100% sales rise, or AppLovin, at nearly 70% revenue growth.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation.)

But as we turn into the final lap of Q3 earnings season — Nvidia reports its numbers on November 19 and Walmart closes the season on November 20 — natural gas stocks have emerged as some of the most overlooked sources of revenue growth for investors, according to a screen we recently ran using FactSet data.

Expand Energy, created by the merger of Chesapeake and Southwestern last year, is the nation’s largest natural gas producer, and when it posted sales of $2.97 billion in Q3 — up over 350% — late last month, it leapt to the top of the leaderboard for Q3 sales growth, FactSet data shows.

An early US cold snap, strong liquefied natural gas exports from the US to Europe, and doubts about Russian supplies to the world market amid more talk of sanctions and Ukrainian attacks on Russian infrastructure have all helped push up prices for gas.

US benchmarks are up more than 70% over the last 12 months, including a more than 50% gain over the the last three months — and strong demand from power plants competing to churn out energy for the AI data center boom has created a favorable growth backdrop for other gas industry players, from gas pipeline and processing company Oneok, to distributor EQT Corp, to drillers like Diamondback Energy and Coterra Energy.

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