U.S. stock movement | Q2 revenue missed expectations, On Running (ONON.US) plunged over 18% in morning trading.

According to the Zhitong Finance APP, on Tuesday, ONON (ONON.US) fell over 18% in early trading, reaching a new low for the year, currently reported at $31.56. In terms of news, the company released its second-quarter financial report, with net sales of 850.3 million Swiss francs, below the market consensus expectation of 878 million Swiss francs; adjusted earnings per share were 0.35 Swiss francs, slightly higher than the expected 0.34 Swiss francs. The company raised its full-year gross margin expectation to at least 65%, but the revenue shortfall has raised market concerns about growth momentum.