On May 20, Keysight Technologies fell 4.1% in regular trading, trading at $335.265/share, with trading volume of approximately $132 million. The stock had risen 5.2% in after-hours trading on May 19 and 3.03% in pre-market trading earlier in the day, but gains were fully reversed after the opening bell in a classic sell-the-news pattern.

On the news front, the company reported fiscal Q2 adjusted EPS of $2.87, beating the consensus estimate of $2.32 by 23.71% and representing a 68.82% year-over-year increase from $1.70. Revenue came in at $1.717 billion, also exceeding the consensus estimate of $1.706 billion. Both JPMorgan and Baird raised their price targets, maintaining Outperform ratings, while Morgan Stanley highlighted strengthening demand from AI data centers and aerospace and defense markets.

However, the stock had already declined significantly from May 7 through May 19 amid pre-earnings positioning, and short-term profit-taking pressure dominated the session despite the strong results and positive institutional commentary.

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