META · PEAD → 8

Meta reported Q2 2026 EPS of $6.18 on 2026-07-29, missing the $7.10 consensus by $0.92 (-13.0%).

Print-day reaction was -1.3% versus the prior close, a contained initial move that belied the magnitude of the EPS miss. The overnight gap to the T+1 open, however, was severe: -10.2%, as the market processed the shortfall in after-hours and pre-market trading. Over the subsequent three sessions the stock drifted sharply higher, recouping +9.5% from the T+1 open to the T+3 close, fully reversing the overnight gap. The cumulative abnormal return of -2.8% versus SPY.US sits inside the ±3% PEAD threshold, producing a none verdict with conviction 8; the holding window closes 2026-10-26.