AMGN · PEAD → 11

Amgen reported Q3 2026 EPS of $6.45 on 2026-11-03, beating the $5.74 consensus by $0.71 (+12.4%).

Print-day reaction was -0.9% versus the prior close — a muted negative response despite the sizeable earnings beat, suggesting the market had priced in a strong result. The overnight gap to the T+1 open was a sharp +4.0%, signalling an after-hours reassessment that absorbed the EPS surprise more constructively. Over the following two trading sessions the stock drifted -3.8%, giving back nearly all of the overnight pop and leaving the cumulative three-day move in slightly negative territory. Cumulative abnormal return of +1.1% versus SPY.US sits squarely between the ±3% PEAD thresholds, yielding a none verdict with conviction 11; the holding window runs through 2027-01-29.