ADI · PEAD → 0

Analog Devices reported Q2 FY2026 EPS of $3.09 on 2026-05-20, beating the $2.91 consensus by $0.18 (+6.2%); year-over-year comparison is not available in current data.

Print-day reaction was -3.9% versus the prior close, a sharp sell-the-news move despite the consensus beat. The overnight gap to the T+1 open added a further -0.4%, signalling no after-hours recovery. Over the following two trading days the stock drifted +9.3%, staging a substantial reversal of the initial decline. Cumulative abnormal return of -0.9% versus SPY.US leaves ADI in neutral territory — drift partially offsets but does not overcome the initial drop; PEAD verdict is none, with the read expiring 2026-08-17.