Earnings week is here. Banks kick off Q3 results Tuesday (JPMorgan, Goldman, Wells Fargo, Citigroup), September CPI lands Wednesday, and TSMC reports Thursday with an early read on AI capex. The market heads into all that near record territory — the S&P 500 closed Friday at 7,811.54, just a hair below its all-time high, while the 10-year yield eased to ~5.24% after touching 5.36% last week. Four ideas worth watching.

1. Palantir (PLTR) — Wall Street upgrades chase a record run

Palantir had its best week since early August. On Wednesday, Goldman Sachs upgraded the stock to Buy and set a $230 price target, arguing sovereign and custom AI demand expands Palantir’s market. On Friday, Barclays initiated coverage with an Overweight rating and a $265 target. Shares jumped 5.2% to $209.05 on Friday — a fresh record high.

The momentum has a foundation: second-quarter revenue of $1.94 billion was up 93% year over year, with U.S. commercial revenue up 149%. A notable subplot: Zeta CEO David Steinberg revealed at Zeta Live 2026 that Zeta is rebuilding its Data Cloud on Palantir’s Foundry under a seven-year deal targeting $100M+ in annual sales.

What to watch: Palantir reports Q3 earnings on November 2 — that’s the next real test of the growth story. Watch whether commercial growth keeps outpacing government.

Caution flag: The stock trades at a nosebleed multiple (roughly 123x forward earnings), insider selling has been heavy with no buying in six months, and the average analyst target is now right at Friday’s closing price — expectations are priced in, leaving little room for a stumble.

2. SpaceX (SPCX) — an $8 billion bet that rattled telecom

The biggest corporate shake-up of the week wasn’t an earnings report. SpaceX agreed to buy Grain Management’s nationwide 800 MHz low-band spectrum portfolio for about $8 billion in cash, a deal CEO Elon Musk called a “very big deal.” Low-band spectrum travels far and penetrates buildings — exactly what Starlink Mobile needs to compete for your phone plan, not just backup coverage.

The market reaction was instant and brutal: on Friday, T-Mobile plunged 13.3%, AT&T dropped 9.8%, and Verizon fell 8.8% — its worst day since 2002. Combined, the three carriers lost roughly $39 billion in market value in a single session. SpaceX, newly public and up above its $150 IPO price, closed at $162.57.

What to watch: The deal still needs FCC approval, and SpaceX hasn’t said when service on the new spectrum would begin. Watch for how the carriers respond — they have already agreed in principle to a satellite joint venture of their own.

Caution flag: Building a competitive network requires enormous capital, and analyst notes flag that SpaceX would likely need to build ground-based towers or partner with an existing carrier to make full use of the spectrum. The selloff may be pricing in a threat that’s still years away.

3. Zeta Global (ZETA) — finally profitable, near 52-week highs

Zeta delivered its 20th consecutive beat-and-raise quarter in August, and this one was different: the company’s first-ever profitable quarter on a GAAP basis, with $8.2 million in net income ($0.03 per share) versus expectations of a $0.03 loss. Revenue came in at $443 million, up 43.5% year over year, and management raised full-year 2026 guidance across the board. Shares have roughly doubled since their spring lows and now trade near the $33.74 52-week high, around $33.

The Palantir connection adds intrigue: at Zeta Live 2026 earlier this month, Palantir CEO Alex Karp joined Zeta CEO David Steinberg on stage to discuss the seven-year Foundry integration and data sovereignty theme.

What to watch: Q3 earnings, expected in the coming weeks, are the next catalyst — 20 straight beat-and-raise quarters have raised the bar for quarter number 21.

Caution flag: Not all of the headline growth is organic — a meaningful chunk comes from the Marigold acquisition, with organic growth in the mid-20s versus the 44% headline. Insider transactions have also skewed toward selling. At this run-up, “good” may not be good enough.

4. Surf Air Mobility (SRFM) — small-cap momentum at a catalyst week

For the momentum crowd: Surf Air Mobility is having a moment. On Tuesday, the stock jumped 17% after the company announced its fourth commercial OperatorOS deal, with Clipper Aviation signing on as a customer. The company aims to have five operators live by year-end. Shares trade around $0.95, up 86% in the past month.

This week brings a fresh catalyst: CEO Deanna White and CFO Jason Secore are presenting at the Maxim Growth Summit in New York (October 12–14), holding one-on-ones with institutional investors — exactly the kind of exposure a micro-cap story needs.

What to watch: Whether the Maxim summit produces follow-on deal announcements or analyst coverage, and progress toward the fifth operator by year-end.

Caution flag: A recent Seeking Alpha note is outright bearish, arguing aviation cash burn is outpacing the software story and software revenue remains immaterial. This is a speculative name — the software growth thesis has to prove out before the aviation losses matter less.

The bottom line: This week belongs to earnings and the macro calendar — bank results and Wednesday’s CPI will set the tone for everything else. Palantir and Zeta show what sustained AI demand can do for a growth story, SpaceX is rewriting the telecom competitive map, and Surf Air Mobility is a reminder that small-cap momentum still lives when the deal flow is real.

Disclaimer: This post is for educational and informational purposes only and is not financial advice, a recommendation, or an offer to buy or sell any security. Investing involves risk, including possible loss of principal. Do your own research and consult a qualified financial professional before making investment decisions.