{
  "report_rows": [
    {
      "kpi": "Diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$1.14 vs. cons $1.12",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net interest income (GAAP)",
      "prediction": "IN-LINE",
      "answer": "pred ~$16.0B vs. cons $16.1B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Sales & trading revenue",
      "prediction": "BEAT",
      "answer": "pred ~$5.9B vs. cons $5.6B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 NII growth guide",
      "prediction": "BETTER",
      "answer": "guide ~+7-8% vs. cons ~+7% (FY2026 vs 2025)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 operating leverage target",
      "prediction": "UNCHANGED",
      "answer": "guide ~200-300 bps vs. cons ~200 bps (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Quarterly common dividend (post-CCAR)",
      "prediction": "BETTER",
      "answer": "guide ~$0.30 vs. cons/current $0.28 (3Q26)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.2,
  "day5_path": "FADE",
  "day5_rationale": "A clean beat led by volatile trading plus in-line NII and a likely dividend bump should pop the stock ~1% on day 1, but follow-through fades: management has flagged that the 2H26 fixed-rate repricing tailwind is smaller than 2H25, so out-quarter NII estimates get little upward revision even after the beat (YoY NII growth decelerates from ~9%). With shares at record highs (elevated bar / results largely priced in), a persistent Berkshire selldown overhang, and peers reporting the same week, the initial gain largely gives back \u2014 mirroring the muted 2Q25 reaction (~+0.7% then faded).",
  "day5_confidence": "MEDIUM"
}