LITE · PEAD ↓ 100

Lumentum reported Q1 FY2027 EPS of $3.76 on 2026-11-02, missing the $3.82 consensus by $0.06 (-1.57%); prior-year comparable EPS was not available in our feed.

Print-day reaction was -18.59% versus the prior close, a sharp gap-down open followed by sustained selling that left the stock deeply below its pre-earnings range. The overnight gap into the next session added a further -0.50%, signalling no after-hours stabilisation. Over the following two trading days (T+1 through T+3) price drifted an additional -25.06%, with each session printing lower lows — a full continuation of the initial collapse, not a mean-reversion. Cumulative abnormal return of -36.37% versus SPY.US puts this firmly in PEAD short territory; per the documented drift pattern, the read is held through 2027-01-28.