Shares of On Holding (NYSE: ONON), the footwear company best known for its running shoes, were moving higher today in sympathy with Nike (NYSE: NKE) after the sportswear giant jumped on better-than-expected results in its fiscal first-quarter earnings report.

As a result, On stock was up 6.2% as of 12:31 p.m. ET, while Nike was up by the same percentage.

There was no company-specific news out regarding On Holding, but the results and comments from Nike seemed to be enough to give it a tailwind today.

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Source Fool.com