KLAC · PEAD ↓ 42

Print-day reaction was a muted +0.4% versus the prior close, offering little confirmation that the consensus beat would carry the stock higher. The overnight gap to the T+1 open, however, told a sharply different story — a -7.1% gap down erased the print-day gain and then some, signalling aggressive post-hours selling despite the beat. The Day 1–3 drift extended the damage, declining a further -2.1% from T+1 close through T+3 close, with no meaningful stabilisation. Cumulative abnormal return of -6.2% versus SPY.US puts this firmly in PEAD short territory; per the documented drift pattern, the read holds through 2026-07-27.