IBM · PEAD ↑ 20

IBM reported Q2 2026 EPS of $2.93 on 2026-07-22, exactly matching the $2.93 consensus (0% beat/miss); year-over-year comparison is not available in the current data feed.

Print-day reaction was −2.2%, as IBM shed ground from its prior close of $210.50 to finish at $205.77 on the report date. The overnight gap to the T+1 open widened the drawdown by a further −1.5%, suggesting continued selling pressure into the following session. Days 1–3 told a different story: price drifted +4.7% from the T+1 close through the T+3 close, decisively reversing the initial reaction and the overnight fade. Cumulative abnormal return of +3.97% versus SPY.US clears the +3% PEAD long threshold; the documented drift pattern holds through the window ending 2026-10-19.