STM · PEAD ↓ 100

STMicroelectronics reported Q2 2026 EPS of $0.31 on 2026-07-23, beating the $0.26 consensus by $0.05 (+19.2%).

Print-day reaction was −18.7% versus the prior close, a sharp gap-down open that erased roughly a fifth of the stock's value despite the earnings beat. The overnight gap to T+1 open recovered a marginal +1.7%, suggesting no sustained buying interest after hours. Over the following two trading sessions the drift extended losses by an additional −2.7%, confirming no mean-reversion. Cumulative abnormal return of −22.9% versus SPY.US firmly places this in PEAD short territory; the documented drift pattern is held through 2026-10-20.