WDAY · PEAD → 44

Workday reported Q1 FY2027 EPS of $2.66 on 2026-05-21, beating the $2.52 consensus by $0.14 (+5.6%).

Print-day reaction was –3.8% versus the prior close, a sharp sell-the-news response despite the EPS beat. The overnight gap into T+1 reversed course sharply, adding +5.7% to the open — suggesting after-hours buyers stepped in aggressively. Over days 1–3, however, the stock gave back –2.8%, erasing most of that gap recovery. Cumulative abnormal return of –2.9% versus SPY.US lands just inside the ±3% neutral band, yielding a PEAD verdict of none; the drift neither confirms nor sustains either the initial selloff or the overnight bounce, and the read window runs through 2026-08-18.