INTC · PEAD ↓ 100

Intel reported Q2 2026 EPS of $0.30 on 2026-07-23, beating the $0.10 consensus by $0.20 (+200%) — yet the market responded with sustained selling across the full three-day window.

Print-day reaction was -2.3% versus the prior close, an immediate rejection despite the headline beat — suggesting the market interpreted guidance or underlying fundamentals as disappointing. The overnight gap to the T+1 open was a negligible +0.1%, offering no relief after hours and confirming that the after-market session absorbed the news without any meaningful bounce. Over the following two sessions (T+1 through T+3), the stock drifted a further -6.5%, a sharp continuation of the initial sell-off with no give-back. Cumulative abnormal return of -15.0% versus SPY.US firmly places this in PEAD short territory; per the documented drift pattern, the read holds through 2026-10-20.