Palantir (PLTR) fell 4.89% in Tuesday's regular trading to $169.62 by 10:31 AM ET, despite a third-quarter report that beat estimates on revenue and earnings. Revenue reached $2.313 billion versus a $2.181 billion estimate, up 95.87% year over year, and full-year revenue guidance was raised to $8.530–8.534 billion. However, total contract value (TCV) grew only 6% to $2.918 billion, which management attributed to shorter contract terms. Based on June 30, 2026 portfolio weights, the article estimates the decline trimmed roughly 0.06 percentage points from QQQ's return and about 0.07 from XLK's, which hold PLTR. The author notes that Palantir trades at 252 times earnings, making the stock sensitive to changes in growth expectations.
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Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 681.13 |
| Change that session | -1.36% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 752.10 |
| Change that session | -0.48% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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