CGNX · PEAD ↓ 80

Cognex reported Q3 2026 EPS of $0.53 on 2026-11-04 (after market close), beating the $0.51 consensus by $0.02 (+3.9%).

Print-day reaction was -8.7% versus the prior close, a sharp drawdown despite the EPS beat — signalling the market interpreted guidance or revenue context as materially disappointing. The overnight gap to the T+1 open extended the damage by another -5.0%, with no after-hours stabilisation. Over the following two trading sessions the stock drifted a further -5.99% net through T+3 close, compounding the initial sell-off rather than recovering. Cumulative abnormal return of -13.2% versus SPY.US firmly places this in PEAD short territory; drift confirms and amplifies the initial reaction, with the read sustained through the holding window ending 2027-02-01.