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The backtest results indicate that SMMT experiences strong short-term positive returns following earnings misses, with an 80% win rate and returns of 11.63% over 3 days and 18.36% over 10 days. However, the positive momentum diminishes by 30 days, where the win rate falls to 40% and returns drop to 14.79%. In contrast, the Pharmaceuticals Industry shows negligible impact from earnings misses, with a maximum return of -0.35% after 49 days, indicating resilience. This suggests that investors might benefit from short-term trading strategies with SMMT post-earnings miss, while maintaining stable positions in the broader industry.