ALAB · PEAD → 35

Astera Labs reported Q2 FY2026 EPS of $0.49 on 2026-08-04, beating the $0.42 consensus by $0.07 (+16.7%).

Print-day reaction was a sharp +12.7% versus the prior close, as the EPS beat drove the stock well above its pre-earnings range. The overnight gap reversed course, giving back -3.7% from T+0 close to the T+1 open, signalling meaningful after-hours fading of the initial enthusiasm. Over the following two trading days (T+1 through T+3) the stock drifted +4.9%, a partial recovery that still left the three-day total return well inside the initial move. Cumulative abnormal return of +2.0% versus SPY.US falls short of the ±3% threshold required for a directional PEAD read; direction is none with conviction 35, holding window through 2026-10-30.