{
  "report_rows": [],
  "guide_rows": [],
  "day1_residual_pct": 2.14,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -4.0,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "Beat is again lower-quality (margin trough quarter, no repeat of Q1 tariff pull-forward; YoY EPS ~flat). Stock ran up ~8% into the print to ~$96 near recovery highs, so the bar is high. Out-period math is the drag: back-half comps get ~400bps tougher for U.S. Knees and margins stay compressed into Q3 (guided down ~50bps seq), so any EPS-only raise gets faded and H2 revenue/margin estimates drift lower \u2014 extending the initial negative move rather than reversing it.",
  "day5_confidence": "LOW"
}