ADBE · PEAD ↓ 80

Adobe reported Q2 FY2026 EPS of $5.96 on 2026-06-11, beating the $5.81 consensus by $0.15 (+2.58%).

Print-day reaction was -6.2% versus the prior close, a sharp sell-the-news move despite the earnings beat. The overnight gap to the next open extended the damage by a further -7.5%, signalling no stabilisation in after-hours or pre-market trading. Over the following two trading sessions the stock drifted only marginally higher, +1.6%, failing to recoup any meaningful portion of the initial collapse. Cumulative abnormal return of -14.6% versus SPY.US firmly places this in PEAD short territory; drift confirms and extends the initial reaction, with the read held through 2026-09-08.