{
  "report_rows": [
    {
      "kpi": "Adjusted operating EPS",
      "prediction": "BEAT",
      "answer": "pred ~$10.95 vs. cons ~$10.75",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted operating net revenue",
      "prediction": "BEAT",
      "answer": "pred ~$4.85B vs. cons ~$4.79B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Wealth Mgmt wrap/client net flows",
      "prediction": "MISS",
      "answer": "pred ~$5.0B vs. cons ~$7.0B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Core/same-store organic (ex-Comerica) growth (FY26)",
      "prediction": "UNCHANGED",
      "answer": "guide ~4-5% vs. cons ~4-5% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Asset Management net flows trajectory (Q2)",
      "prediction": "BETTER",
      "answer": "guide ~-$5B vs. cons ~-$6B (2026Q2)",
      "confidence": "LOW"
    },
    {
      "kpi": "Asset Management pretax margin (FY26)",
      "prediction": "BETTER",
      "answer": "guide ~42-44% vs. cons ~40% (FY2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Capital return payout ratio (FY26)",
      "prediction": "UNCHANGED",
      "answer": "guide ~85-90% vs. cons ~87% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "RPS quarterly earnings run-rate (Q2)",
      "prediction": "UNKNOWN",
      "answer": "guide ~$200M/qtr vs. cons ~$200M (2026Q2)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -3.0,
  "day5_path": "FADE",
  "day5_rationale": "Stock ran ~18% (from ~$447 late-June to ~$527) into the print, so a well-telegraphed headline EPS/revenue beat is largely priced. Optically weak wrap flows from the accelerating Comerica runoff (Q2/Q3) keep the flow narrative messy, and the implicit out-period math (elevated recruiting attrition, coming spread compression as Fed cuts) pulls forward estimate trims even on a beat. Rich valuation back near highs leaves little cushion, favoring a sell-the-news fade over follow-through.",
  "day5_confidence": "MEDIUM"
}