PANW · PEAD ↓ 82

Palo Alto Networks reported Q3 FY2026 EPS of $0.85 on 2026-06-02 (after market close), beating the $0.80 consensus by $0.05 (+6.25%).

Print-day reaction was -1.1% versus the prior close, a muted and mildly negative response despite the EPS beat, suggesting the market found something in the broader report to discount. The overnight gap to the T+1 open deepened the selling pressure by another -4.1%, indicating after-hours conviction behind the fade rather than a reflexive reversal. The Day 1–3 drift then extended the move by a further -3.0%, with no meaningful stabilisation as the stock continued to shed ground through the three-day window. Cumulative abnormal return of -6.7% versus SPY.US places this firmly in PEAD short territory — drift confirms and amplifies the initial reaction; holding window runs through 2026-08-28.