Notes

A trading strategy called SCHL had the following results: it held positions for 3 days on average, with a target return of 3, and allowed for a 10 basis point slippage, which means a small loss due to the delay in buying or selling. The strategy was tested on a 'train' split of data, using 16 samples, and resulted in a return of -11.11%, with a maximum drawdown of 15.73%. The strategy was successful 37.5% of the time, with an average win of 1.66% and an average loss of 2.13%. The results also showed a confidence interval between -1.73% and 0.57%. The strategy used a long-only approach, meaning it only bought assets, and used a custom exit strategy based on daily marks and worst-order stop-first and gap-open exits. The strategy was tested with a 5 basis point fee per transaction. A parameter sweep was conducted to test the strategy's sensitivity, but it did not include 15-minute execution validation and was based on a holdout set that had been seen in prior test 763. https://runway.adityaperswal.workers.dev/data/stock-bars?symbols=SCHL&timeframe=1Day&feed=iex&adjustment=all

A news scan found the headline 'SRRK SEP1200 completed September 11 IEX daily indicators'. The data shows that on September 11, 2026, the close price was 55.39. The return on investment for one day was -0.4582621978614476 percent. The open gap percentage was 0.4942043310270483 percent. The return on investment for 20 days was 4.312617702448218 percent. The simple moving average for 20 days was 56.224250000000005. The simple moving average for 50 days was 53.552699999999994. The Relative Strength Index, which measures stock speed, for 14 days was 51.13365510536025. The Average True Range, which measures volatility, for 14 days was 2.1239285714285723. The Average Daily Range, which measures price movement, for 20 days was 1.9872500000000002. The lowest price in 20 days was 51.71. The highest price in 20 days was 61.75. The average volume for 20 days on the IEX exchange was 65273.5. The correlation, which measures how two things move together, between SRRK and SPY for 60 days was -0.06358172386785431. This data uses the Wilder method for the Relative Strength Index, a simple mean for the Average True Range, and the mean high-low for the Average Daily Range. The close price correlations are for the last 60 days and are based on aligned returns. The data does not include the full market, as it is not consolidated and does not account for auction or liquidity. The SRRK daily bar is available before 22:25 UTC approval, but it cannot measure the reaction to this approval. https://runway.adityaperswal.workers.dev/data/stock-bars?timeframe=1Day&feed=iex&adjustment=all

A news scan found the headline 'SPY SEP1200 completed September 11 IEX daily indicators'. The data shows that on September 11, 2026, the close price was 764.14. The return over the last day was 0.8273186694288004 percent. The open gap, which is the difference between the opening price and the previous day's close, was 0.8774591948487176 percent. Over the last 20 days, the return was -1.7612876684151013 percent. The simple moving average over 20 days was 766.83525, and over 50 days it was 758.5819. The Relative Strength Index, or RSI, which measures the speed and change of price movements, was 50.22825077411958. The Average True Range, or ATR, which measures price volatility, was 5.57071428571427. The Average Daily Range, or ADR, which measures the average difference between high and low prices, over 20 days was 4.196750000000009. The lowest price over 20 days was 756.64, and the highest price was 778.78. The average volume over 20 days was 1221223.15. The correlation between the returns of SPY and the overall market over the last 60 days was 1. This data is based on a specific set of calculations, including the RSI Wilder, which is a type of RSI calculation, the ATR simple mean, which is a type of ATR calculation, and the ADR20, which is a type of ADR calculation. The data also notes that the market was not fully open, and the volume was not consolidated, which can affect the accuracy of the data. Additionally, the data was available before 22:25 UTC, but it cannot measure the reaction to the data after that time. https://runway.adityaperswal.workers.dev/data/stock-bars?timeframe=1Day&feed=iex&adjustment=all

A news scan found the headline 'SCHL SEP1200 completed September 11 IEX daily indicators'. The data for September 11, 2026, shows the following indicators for SCHL: it closed at 34.975, with a one-day return of -0.8645124716553321 percent, and an open gap of 2.352607709750565 percent. The twenty-day return was -15.376240019356391 percent. The simple moving average, or sma, over twenty days was 38.650000000000006, and over fifty days was 41.67100000000001. The relative strength index, or rsi, which measures stock speed, was 25.867087159279606. The average true range, or atr, which measures volatility, was 0.9860714285714296. The average daily range, or adr, which measures the average difference between high and low prices, over twenty days was 0.8917499999999997. The low over twenty days was 34.84, and the high was 41.89. The average volume over twenty days on the IEX exchange was 14064.5. The correlation between SCHL and SPY, which measures how much they move together, over sixty days was 0.15890463444502992. These indicators were calculated using the Wilder method for RSI, a simple mean for ATR, and a mean for ADR. The data is from a partial market open and does not include consolidated auction or liquidity data. The daily bar data was available before 22:25 UTC approval, so it is not possible to measure the reaction to the approval. https://runway.adityaperswal.workers.dev/data/stock-bars?timeframe=1Day&feed=iex&adjustment=all

A news scan found the data line for KR SEP1200 completed on September 11. The data shows the following indicators: close price was 58.46, one-day return percentage was 2.6334269662921406, open gap percentage was -1.4396067415730296, twenty-day return percentage was 2.8139289482940644, simple moving average for twenty days was 57.5105, simple moving average for fifty days was 57.53280000000001, relative strength index, which measures stock speed, for fourteen days was 54.890519123762815, average true range, which measures volatility, for fourteen days was 1.3782142857142858, average daily range, which measures price movement, for twenty days was 1.223, lowest price for twenty days was 55.11, highest price for twenty days was 59.47, volume for twenty days on the IEX exchange was 410531, and correlation, which measures relationship, with SPY returns for sixty days was -0.16927799222869488. The calculations used were RSI Wilder, exponential weighted moving average for fourteen days, ATR simple mean for fourteen days with true ranges, ADR twenty, mean high-low for twenty days, and close correlations for last sixty aligned returns. Note that this data is based on partial market open and volume, and is not consolidated auction or liquidity. The daily bar for SRRK precedes 22:25 UTC approval, so it cannot measure reaction. https://runway.adityaperswal.workers.dev/data/stock-bars?timeframe=1Day&feed=iex&adjustment=all

A news scan found the headline 'HOFT SEP1200 completed September 11 IEX daily indicators'. The data line for September 11, 2026, shows the following information: the close price was 12.525, the one-day return percentage was -0.35799522673031214, the open gap percentage was 7.239459029435169, and the twenty-day return percentage was -15.599730458221018. The simple moving average for twenty days was 13.529499999999999 and for fifty days was 14.2335. The Relative Strength Index, or a measure of how quickly a stock is rising or falling, was 31.80156714480664. The Average True Range, or a measure of volatility, was 0.38000000000000017. The Average Daily Range, or the average difference between the high and low prices, for twenty days was 0.22000000000000003. The low price for twenty days was 12.4 and the high price was 14.95. The volume for twenty days on the IEX exchange was 1952.5. The correlation, or how closely the stock's returns align with the SPY stock's returns, for sixty days was 0.3018238516912251. These calculations use the Wilder method for the Relative Strength Index, a simple mean for the Average True Range, and the mean high-low range for the Average Daily Range. The close correlations are based on aligned returns for the last sixty days. The data does not include partial-market open or volume, which is not consolidated from auction or liquidity sources. The daily bar data from SRRK precedes 22:25 UTC approval and cannot measure reaction. https://runway.adityaperswal.workers.dev/data/stock-bars?timeframe=1Day&feed=iex&adjustment=all

A news scan found the following data line: Recomputed Python from 3 closed lots: RARE had a return of -45.8600619%, a loss of -29.804454 USD, and -6.440348 R, versus a planned target of 1.71739 R; IONS had a return of -2.842420%, a loss of -1.847289 USD, and a target of 1.403846 R; MIRM had a return of -0.439321%, a loss of -0.285515 USD, and a target of 1.081999 R. There were 0 wins out of 3, with a mean return of -16.380601%. The strategy used 2 operator liquidation censors, which means it stopped trading to avoid more losses. All numbers are fractional, meaning they are part of a whole. A stop loss order for 24 shares of RARE was filled at 13.98976, which is a shortfall of 10.01024 per share, and does not include any losses from buying or selling at a bad time. There are no open or pending trades. The current fund value is 49.14, with a 50% gap scenario of 24.57 USD, which is 2.887225% of the equity, and a total loss of 5.774451%. runway:query_trades?fund=catalyst

A news scan found the headline 'SRRK SEP1200 full issuer-hosted prescribing label retrieved'. This is a report about a drug label. The label was approved in 2026 for people aged 2 and above who are undergoing a specific type of therapy that targets the SMN2 gene. The recommended dosage is 10 milligrams per kilogram, given through an intravenous infusion every 4 weeks, which takes 60 to 120 minutes. The label includes a warning about the risk of fractures, but does not list any contraindications, which are conditions under which the drug should not be used. This information is from the issuer-hosted prescribing information, and the FDA approval letter was not retrieved separately. The report notes that this information does not confirm that all manufacturing sites for the drug have been approved. https://www.scholarrock.com/documents/label/us/ISEMBYLD_PI.pdf

A news scan found the headline that in August, there were 531,728 business applications, which is a decrease of 7.8% from the previous month. This is based on data from the Sep 11 agency. The projected formations within the next four quarters are 28,501, which is a decrease of 4.6%. These formations are expected to come from the August application cohort, not the actual births in August. Note that the January 2026 restated 2022 NAICS, or North American Industry Classification System, which is a way to categorize businesses, removed internet sales from the Home-Based Businesses and Other-Based Businesses per the United States Census Bureau website. It is also important to note that administrative applications are not independent demand orders, meaning they are not separate requests, but rather part of a larger process. https://www.census.gov/econ/bfs/current/index.html

A news scan found the headline for the September 11 release, which reported preliminary sentiment at 47.8, a decrease of 7.5% from August's 51.7. The current conditions were 50.9, down from 51.9, and expectations were 45.8, down from 51.5. The expected inflation rate for the next year was 4.6%, up from 4.0%, and the long-run inflation rate was 3.4%, up from 3.3%. The survey showed that people's beliefs about their spending were not realized. A preliminary revision is possible. The final report will be released on September 25 at 10 ET, as stated on the homepage, but this is not a signal to enter a trade. https://www.sca.isr.umich.edu/

A news scan found the headline about the August real earnings actual release. On September 11, 2026, at 8:30 ET, the Bureau of Labor Statistics, or BLS, released data for all private employees. The data showed that real hourly earnings decreased by 0.1 percent from the previous month and by 0.3 percent from the same month last year. Real weekly earnings increased by 0.2 percent from the previous month and by 0.3 percent from the same month last year. The average hours worked increased by 0.3 percent from the previous month and by 0.6 percent from the same month last year. For production and nonsupervisory employees, real weekly earnings decreased by 0.1 percent from the previous month and increased by 0.1 percent from the same month last year. The wage data excludes people who are not employees, and the increase in hours worked offset the decline in hourly earnings. This information is not a traded edge, meaning it does not provide a specific advantage for trading. https://www.bls.gov/news.release/realer.nr0.htm

A news scan found the headline for the Bureau of Labor Statistics release on September 11 at 8:30 ET for August 2026 inflation data. The headline inflation rate was 0.4 percent month-over-month, which is higher than the 0.1 percent in July. The year-over-year rate was 3.4 percent, not seasonally adjusted. Core inflation, which excludes food and energy prices, was 0.3 percent month-over-month, compared to 0.2 percent previously, and 2.4 percent year-over-year, compared to 2.5 percent previously. Gasoline prices increased 3.9 percent month-over-month, energy prices increased 2.1 percent, shelter costs increased 0.3 percent, and food prices increased 0.1 percent. The faster monthly rate and lower core annual rate are not contradictory because they are based on different time periods and bases. There was no preregistered consensus, so there is no claimed surprise or causal price attribution. https://www.bls.gov/news.release/cpi.nr0.htm

A news scan found the headline 'Explicit feed equals sip returns HTTP 403 for five daily 2021-2026 symbols'. This means that a specific data feed, called Explicit feed, which is set to sip, is getting an error message, HTTP 403, when trying to access data for five symbols from 2021 to 2026. The Explicit IEX 200 feed was also mentioned, and it was noted that another feed, feed 200, was omitted because it had different volume and prices, and its identity was not established. IEX is a partial market, meaning it only provides some market data. A Generic CLI, which is a type of computer interface, completed 752 bars, but its default feed and history and cost assumptions need to be audited separately. There were no quoted executable prices or new SIP claims. https://runway.adityaperswal.workers.dev/data/stock-bars

A news scan found the headline about SCHL. On July 23, the issuer, which had a fiscal year that ended on May 31, reported that its free cash flow, or FCF, was 436 million, which includes more than 400 million from net sale leaseback proceeds. Its operating cash flow, or OCF, was 50.9 million, compared to 124.2 million in the prior period. The issuer's net cash was 48.9 million, compared to net debt of 136.6 million. For the fiscal year 2027, the forecast for FCF is 35 to 40 million. In 2026, the adjusted earnings before interest, taxes, depreciation, and amortization, or EBITDA, was 151.5 million, compared to a comparable 132.4 million after considering the full rent impact. The source notes that the 436 million FCF should not be valued as annual repeatable earnings, and that the marketing and non-GAAP definitions require a full cash bridge. https://investor.scholastic.com/news-releases/news-release-details/scholastic-reports-fourth-quarter-and-fiscal-2026-results

A news scan found the headline that the issuer of SCHL confirms that the earnings release for SEP 1200 will be on September 24, 2026, at 16:00 ET and the call will be at 16:30 ET. The pre-event exit is on September 23 as per mandate. The T5 paper entry on September 17 remains unchanged. The annual meeting is on September 16 at 09:00 ET as per the IR homepage, which may disclose relevant news before entry. The future date and clinical or earnings calendar can change, and there will be no automatic order. https://investor.scholastic.com/news-releases/news-release-details/scholastic-corporation-announces-date-first-quarter-fiscal-2027

The company KR provided a quarterly update on September 11. The second quarter, which ended on August 15, showed identical sales with a 0.2% increase. The full-year identical sales guide is 0.2-0.8%, which is lower than the previous guide of 1-2%. The midpoint of this range is a 1.5 to 0.5 percentage point cut. The earnings per share, or EPS, is expected to be between 5.10 and 5.30. The operating profit is expected to be between 5 and 5.2 billion, and the free cash flow is expected to be between 2.7 and 2.9 billion, which is unchanged. There is an approximately 140 basis point headwind from the International Revenue Account, or IRA, in the full-year sales guide. The sales cut is not the same as the organic volume contraction. The adjusted EPS is 1.09, and the operating profit is 1076 million. The GAAP, or Generally Accepted Accounting Principles, operating profit is 971 million. The net debt to adjusted EBITDA, or earnings before interest, taxes, depreciation, and amortization, is 1.91, compared to 1.63. The year-to-date repurchases are 1.2 billion, with 0.8 billion remaining. A news scan found the headline from the direct IR 403, corporate IR feed, with a full HTTP 200 response, but this is from the same issuer and does not serve as corroboration. https://www.thekrogerco.com/ir-feed-item/kroger-reports-second-quarter-2026-results-and-updates-guidance-for-2026/

For the first half of the fiscal year 2027, the company had an operating cash flow of 24 million and capital expenditures of 1.1 million, resulting in a free cash flow of 22.9 million. This includes a recovery of cash of 7.9 million and a release of 5.3 million from inventory, which decreased from 48.7 million to 43.4 million. The company notes that this release is not a perpetual source of earnings. As of September 11, the company had 18.7 million in cash, compared to 1.1 million at the end of the fiscal year. The company has no term loan or credit facility balance and has 51.8 million in borrowing availability, but this is not cash that the company owns. The company spent 3.6 million on principal, 2.5 million on dividends, and 1.3 million on repurchases. Excluding the recovery of cash, the free cash flow is 15 million, which is a simple descriptive bridge to other working capital items, but does not represent a steady-state forecast. https://investors.hookerfurnishings.com/news-releases/news-release-details/hooker-furnishings-reports-profitable-quarter-and-first-half

A news scan found the headline about HOFT SEP1200 reported earnings versus tariff recovery. On September 11, the issuer reported its Q2 FY27 earnings, which ended on August 2. The company had a continuing operating income of 1.3 million dollars. There was a 4.3 million dollar benefit from tariffs, and a 0.5 million dollar reduction in customer credits, resulting in a net operating benefit of 3.8 million dollars. Additionally, the company earned 0.2 million dollars in interest. The simple normalized operating income is 1.3 - 3.8 = -2.5 million dollars, which is not an issuer-adjusted metric. The company's revenue decreased by 8.7 percent in Q2. However, the backlog increased by 6.2 percent year-over-year and 8.4 percent quarter-over-quarter. The company recovered 7.9 million dollars in cash, with 1.8 million dollars still in inventory and 1 million dollars from discontinued operations, on a net pre-tax basis. No material additional recoveries are expected. Note that rounded values do not fully reconcile to 7.9 million dollars. https://investors.hookerfurnishings.com/news-releases/news-release-details/hooker-furnishings-reports-profitable-quarter-and-first-half

A news scan found the headline of the latest article on the issuer's news page, dated September 12, 00:04 UTC, which is a website that provides updates on the company's activities, specifically about Ga68, a type of medical imaging agent. The article did not mention a decision about Pixclara on September 11. An earlier article from April 10, found at https://telixpharma.com/news-views/fda-accepts-nda-for-tlx101-px-pixclara/, only mentioned that a decision would be made on September 11. Just because the decision is not visible does not mean that the FDA, which is the US Food and Drug Administration, has not made a decision. The outcome is still unknown, and there was no significant increase in the stock price after the expected decision date, which is a day when a major announcement was expected to be made. https://telixpharma.com/news-views/

On September 11, 2026, the issuer released news at 18:25 EDT, which is 22:25 UTC, 19 calendar days before the prior September 30 PDUFA, which is a deadline for the US Food and Drug Administration to review a new drug application. The FDA approved ISEMBYLD for people aged 2 and older for a treatment that targets SMN2, a type of spinal muscular atrophy, which is a genetic disorder that affects muscle strength and movement, with a priority review voucher awarded, but no price for this voucher was given. The company expects to start shipping the treatment in the coming days, although this is just a forecast and not based on actual receipts. There will be an investor call on September 14 at 08:00 ET, which is 12:00 UTC. The full original information is available, and the FDA label needs to be retrieved separately. The main group of people in the study, who were aged 2 to 12, had 103 participants and received a nominal dose of 10mg/kg, which showed a 2.2 point benefit on the HFMSE scale, which measures muscle strength, with a p-value of 0.0121, which is a measure of statistical significance, indicating that the result is likely not due to chance. Additionally, 34.2% of participants had a 3-point or more improvement, compared to 13.5% of those who did not receive the treatment, and there were 9 fractures in the treatment group compared to 2 in the other group. This information comes from the issuer's promotional source and should not be used to infer the likelihood of the stock performing well based on the clinical p-values, which are a measure of the statistical significance of the results. https://scholarrock.gcs-web.com/news-releases/news-release-details/scholar-rock-announces-fda-approval-isembyldtm-apitegromab-mstn

A scheduled collector, numbered 224, completed its task. It last ran at 8:15:37 on September 11, 2026, and is set to run again at 16:15:37 on the same day. The task involved 1970 characters and 11 panels, and it did not encounter any errors. The collector finished with the message: END actual original completed, with 11 panels and a rawsha of 9777ad7d576e91c62ab440fd5414d66183c71df40d3668b04d8bf51e3649e88c, noting that only previews were shown and advising to read originals before taking action. runway:list_jobs?fund=catalyst

A scheduled collector, numbered 223, completed its task. It last ran at 8:15:37 on September 11, 2026, and will run again at 10:15:37 on the same day. The task processed 1473 characters and 7 panels, and found no errors. The task ended with the message: END actual original completed, with 7 panels and a rawsha of 0544d08f9ce5a1b181e8563a95968dc8c23a75ee2c6ad9d4d2a3d6a376d53a81, noting that only previews were shown and advising to read originals before taking action. runway:list_jobs?fund=catalyst

A news scan found the headline 'PRE91108 FDA calendar coverage gap'. On September 11, a browser-rendered calendar showed only the table header, with no event rows. A search for September 14 PDUFA, which stands for Prescription Drug User Fee Act, returned no unique confirmed candidate, so it cannot be inferred that there are zero FDA events. An existing TLX date, which refers to a specific stock ticker, was verified separately, and a broad coverage gap is explicit. https://www.fda.gov/advisory-committees/advisory-committee-calendar

A news scan found the report that Zumiez had sales of $208.964 million in the second quarter, which ended on August 1, with comparable sales down 2.1 percent, a loss of $2.743 million, and a gross margin of 35.3 percent. For the 37 days ending on September 7, comparable sales were down 3.5 percent and sales were down 4.3 percent. The company guided that it expects sales of $222 to $226 million and earnings per share of $0 to $0.10 in the third quarter. Operating cash flow, which is the cash generated from operations, was negative $27.276 million, and capital expenditures, which are expenses for buying or improving assets, were $4.880 million, resulting in free cash flow, which is the cash available after expenses, of negative $32.156 million. The company also spent $28.972 million on buying back its own stock, which is a way for the company to return cash to shareholders. The total cash and securities, which are investments, were $97.265 million as of September 10, compared to $160.624 million on January 31, a decline of $63.359 million. The combination of free cash flow and buybacks drained $61.128 million in cash. Inventory, which is the value of goods held for sale, was $157.282 million, down 0.27897 percent from the same time last year. The company's positive operating cash flow of $35.7 million helps to explain the change in cash from last year, but not for the first half of the year. https://www.sec.gov/Archives/edgar/data/1318008/000117184326005980/exh_991.htm

A news scan found the statement that Copart, or CPRT, is involved in an acquisition. The implied equity value is 1900 million dollars, which will be financed using cash on hand. The deal is expected to close by the end of calendar year 2026. It is expected to be neutral to earnings per share, or EPS, in the first full year and accretive, meaning it will increase earnings, by fiscal year 2028 and beyond. The ratio of the implied equity value to forecasted free cash flow, or FCF, for fiscal year 2026 is 1.49945 times. This forecast is not guaranteed and dealer wholesale benefits may not be realized as cash. https://www.sec.gov/Archives/edgar/data/900075/000119312526388064/d138322dex991.htm