LITE · PEAD ↓ 24

Lumentum reported Q2 FY2027 EPS of $4.57 on 2026-11-05, beating the $3.82 consensus by $0.75 (+19.6%).

Print-day reaction was -18.7% versus the prior close, a sharp sell-the-news collapse despite the meaningful EPS beat. The overnight gap recovered 8.0%, suggesting some buyers stepped in after hours to fade the initial drawdown. Over the following two trading sessions the drift added another 8.7%, a partial but incomplete reversal of the opening-day damage. Cumulative abnormal return of -4.4% versus SPY.US keeps this in PEAD short territory; the documented drift pattern holds through 2027-02-02.