ILMN · PEAD ↓ 100

Illumina reported Q3 2026 EPS of $1.44 on 2026-10-29, beating the $1.36 consensus by $0.08 (+5.9%).

Print-day reaction was a muted +0.4% versus the prior close, leaving the stock barely changed despite the earnings beat. The overnight gap to T+1 open was a severe -11.8%, signalling immediate and sharp after-hours selling that overwhelmed the initial close-to-close print. Over the following two trading days (T+1 close through T+3 close), the stock drifted a marginal +0.9%, offering no meaningful recovery from the gap-down damage. Cumulative abnormal return of -15.2% versus SPY.US constitutes a decisive PEAD short signal — the overnight collapse was not reversed, it was absorbed at lower levels; per the documented drift pattern, the read holds through 2027-01-26.