IBM · PEAD ↑ 67

IBM reported Q3 2026 EPS of $2.95 on 2026-10-21, beating the $2.88 consensus by $0.07 (+2.43%).

Print-day reaction was +3.94% versus the prior close, a sharp move that carried IBM well above its pre-earnings range. The overnight gap into T+1 gave back -4.06%, signalling meaningful after-hours pressure and trimming the initial pop. Over the following two trading days (T+1 close to T+3 close), price drifted +0.53%, a modest but positive continuation that held the bulk of the print-day gain. Cumulative abnormal return of +5.24% versus SPY.US — which declined -0.48% over the same window — firmly clears the +3% PEAD threshold; the long read runs through 2027-01-18.