{
  "report_rows": [
    {
      "kpi": "Total net revenue",
      "prediction": "BEAT",
      "answer": "pred ~$1.43B vs. cons $1.40B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$1.96 vs. cons $1.85",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Jakafi net product revenue",
      "prediction": "BEAT",
      "answer": "pred ~$815M vs. cons $796.5M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 total net sales guide",
      "prediction": "BETTER",
      "answer": "guide raised to ~$4.85-5.00B vs. cons ~$4.90B (FY2026); current range $4.77-4.94B",
      "confidence": "LOW"
    },
    {
      "kpi": "FY2026 Heme/Onc portfolio guide",
      "prediction": "BETTER",
      "answer": "guide raised to ~$860-940M vs. cons ~$865M (FY2026); current $800-880M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Opzelura Q2 net product revenue (vs. aggressive Street bar)",
      "prediction": "LOWER",
      "answer": "pred ~$165M vs. cons $214.7M (Q2 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Jakafi XR launch / mutCALR (989) + povorcitinib HS pipeline commentary",
      "prediction": "UNKNOWN",
      "answer": "pred XR 10-30% Jakafi capture by 2029 vs. cons no explicit number (2026-2029); catalyst-dependent",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -3.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -4.5,
  "day5_path": "FADE",
  "day5_rationale": "Stock is priced for perfection: +73% YoY and +29% in the 7 weeks into the print, at 52-week highs, so a beat-and-modest-raise is already discounted. Even a clean top-line/EPS beat likely triggers a 'sell-the-news' fade (echoing prior muted/negative post-prints). Out-period math is a headwind: the ~$1.25B Vega upfront hits Q3 R&D and rising pipeline spend pressures 2H/2027 earnings, so implicit forward estimates get trimmed even after a Q2 beat; an aggressive Opzelura Street bar ($214.7M) also risks a visible line miss. Absent de-risking data on 989/KRAS/povo, momentum fades over the week.",
  "day5_confidence": "LOW"
}