ON · PEAD ↓ 100

onsemi reported Q3 2026 EPS of $0.90 on 2026-11-02, beating the $0.88 consensus by $0.02 (+2.3%).

Print-day reaction was −2.2% versus the prior close, as the modest EPS beat failed to lift sentiment and the stock sold off on the session. The overnight gap to the T+1 open recovered +2.7%, suggesting an initial after-hours stabilisation attempt. Over days 1–3, however, the stock shed an additional −13.2%, a sharp continuation lower that overwhelmed the overnight bounce. Cumulative abnormal return of −9.1% versus SPY.US firmly places this in PEAD short territory; per the documented drift pattern, the read is held through 2027-01-28.