TSEM · PEAD → 0

Tower Semiconductor reported Q1 2026 EPS of $0.65 on 2026-05-18, beating the $0.5476 consensus by $0.1024 (+18.7%).

Print-day reaction was –9.5% versus the prior close, a sharp sell-the-news reversal despite the earnings beat. The overnight gap to the T+1 open extended the decline by a further –2.9%, suggesting no stabilisation after hours. Over the following two trading days, however, the stock recovered strongly, drifting +11.0% from the T+1 close to the T+3 close, partially recouping the initial drop. Cumulative abnormal return of +1.4% versus SPY.US over the three-day window falls within the –3%/+3% neutral band, yielding a PEAD direction of none with conviction 0; no drift signal is active through 2026-08-13.