The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

1730 ET - Shares of the three major U.S. telecommunications companys -- AT&T, Verizon, and T-Mobile US -- drop in after-hours trading as SpaceX's effort to disrupt their dominance with its Starlink Mobile business moves closer to fruition. SpaceX agreed to buy a portfolio of 800 megahertz spectrum originally owned by T-Mobile, in what it called one of the final steps toward becoming "a major mobile carrier in the US." SpaceX has made no effort to hide that it has the three companies in its crosshairs: "I anticipate us to be able to acquire quite a few of their customers because I think our service will be better," SpaceX COO Gwynne Shotwell told investors in August. AT&T drops 7.5%, Verizon slides 7%, and T-Mobile loses 6.7% after hours. (elias.schisgall@wsj.com)

1707 ET - Spectrum licenses that once belonged to T-Mobile US have now fallen into the hands of one of its fastest-moving competitors: Elon Musk's SpaceX. T-Mobile in August sold its portfolio of 800 megahertz spectrum licenses to Grain Management in exchange for Grain's 600 MHz licenses and $2.9 billion in cash. Grain has now sold that portfolio to SpaceX, which has explicitly said that its Starlink Mobile business aims to take market share from T-Mobile and its telecommunications rivals, Verizon and AT&T. "This prime low-band spectrum addresses one of the key remaining technical gaps that will pave the way for Starlink Mobile to become a major mobile carrier in the US," SpaceX says. T-Mobile shares fall 6.6% after-hours. (elias.schisgall@wsj.com)

1700 ET - Aritzia's tariff refunds helped 2Q profit surge. During the 2Q ended Aug. 30, 2026, the women's fashion brand recognized just about C$97.4 million in International Emergency Economic Powers Act tariff refunds that were received. The regulatory windfall significantly boosted reported results, lifting gross margins by 840 basis points to 57.1%. The refund also tripled net income to C$201.7 million, or C$1.70 a share. Excluding one-off items, such as the tariff windfall, adjusted net income more than doubled to C$156 million, or C$1.31 a share. (adriano.marchese@wsj.com)

1645 ET - Aritzia's digital sales are becoming a bigger part of its growth story. One year after launching its mobile shopping app, the company has seen a surge in engagement, boosting up sales from eager online shoppers. The channel delivered C$402.9 million in sales, a 68% surge over the prior-year period. Ecommerce now represents over 34% of the Canadian women's fashion brand's sales, up from 29.6% a year earlier. Management credits the channel's performance to higher online traffic, strong demand for summer and fall product lines, and targeted digital marketing to get more people on its mobile app. (adriano.marchese@wsj.com)

1343 ET - Qatar leads major Gulf stocks lower, with the QE Index falling 2.2%. The Dubai Financial Market General Index loses 1.7%, while Abu Dhabi's benchmark index and Saudi Arabia's Tadawul All Share Index each decline 1.6%. Major banking shares lead the retreat, with Qatar National Bank falling 2.9%, Saudi National Bank losing 3.1% and Emirates NBD declining 3.6%. The selloff comes as investors assess third-quarter earnings and the outlook for regional equities. Foreign investors withdrew $2.33 billion from GCC stocks in 3Q, the largest quarterly outflow since 2019, Iridium Advisors says. The firm says investors are likely to focus on whether companies can maintain their 2026 earnings guidance amid higher interest rates and prolonged regional disruption. (farhan.rafid@wsj.com)

1337 ET - Cava's earnings growth trajectory hinges on two drivers that look increasingly durable: national expansion and strong unit economics, according to Melius Research in a note. What's more, analysts Jacob Aiken-Phillips and Samuel Barton say that Cava doesn't need a macroeconomic recovery to continue its momentum. "Even as pressure has built across the consumer, CAVA has continued to grow traffic, with its lower-income markets actually producing the strongest same-store sales," they say. The analysts see the decline in Cava's stock in recent months as an overreaction. "We see an attractive entry point into an increasingly de-risked growth story," they say, as they upgrade Cava to buy from hold. Cava is up 3.5%. (kelly.cloonan@wsj.com)

1325 ET - Palantir is positioned to benefit as the growth of the market for bespoke software and sovereign AI outpaces that of the market for packaged software, according to Goldman Sachs in a note. Palantir is expanding its vertical model deeper into financials services, semiconductors, and neoclouds, analysts Gabriela Borges and Maura Hager say, while enterprises are increasingly looking to build AI tools that capitalize on their existing operating moats and aren't reliant on frontier models. They also say Palantir has a head start in using AI agents as forward-deployed engineers, and that the company has an opportunity to expand its work with the U.S. government. Goldman upgrades Palantir to buy from neutral. Palantir is up 1.6%. (elias.schisgall@wsj.com)

1319 ET - There are no obvious revenue synergies between Starbucks and Chipotle Mexican Grill, William Blair analysts Sharon Zackfia and Tania Anderson say in a research note, after the Financial Times reported that the coffeehouse has explored a takeover of burrito chain. Still, a tie-up could have other benefits, such as a shared loyalty ecosystem, cross-brand product placement, the expansion of Chipotle's licensed international business through Starbucks' existing relationships, the analysts say. "Traditional supply chain efficiencies are likely limited given very different supply chains," they write. "G&A savings would likely center in corporate G&A and technology, which we very roundly estimate could be in the $300 million range." (connor.hart@wsj.com)

1306 ET - Starter homes are becoming harder to find nationwide, Realtor.com says, but where buyers look matters as much as what they can afford. Starter-priced listings have become scarcer since 2019, but the Midwest stands out for both inventory and neighborhood choice. The share of active listings priced in the starter-home tier fell from 38.1% in August 2019 to 36.2% in August 2026, even as the national starter-home price threshold rose 30.8%, from $260,000 to $340,000. Had the starter-home share held at its 2019 level, today's market would have more than 21,000 additional starter-priced homes available to buyers.Realtor.com defines a starter-priced home as one listed at or below 80% of its metro's median list price. (chris.wack@wsj.com)

1258 ET - More investors are engaging with cryptocurrencies in trading -- although it appears to be investors selling into the risk-off slump that's hit crypto tokens. According to data from Coinglass, $74.5 billion in bitcoin has been traded over the past 24 hours, which is up 18.6% from the prior day. Many altcoins are seeing even bigger explosions in trading volumes -- nearly $4 billion in NEAR has been traded over the past 24 hours, nearly double the previous day. But the higher volumes appear to be in part holders of long positions getting liquidated - with $221.7 million in bitcoin long positions liquidated over the past 24 hours, according to Coinglass. (kirk.maltais@wsj.com)

1234 ET - Miners of bitcoin were operating in negative territory earlier this year, but with bitcoin's surge in September they've become profitable again, says analysts with CryptoQuant in a note. The firm says that miners turned positive in late August, which happened when bitcoin crossed $76,000. Since turning positive, miners are no longer dumping bitcoin to stay afloat, but are able to accrue supplies once again. "Miners flipped from 'extremely underpaid' to 'fairly paid,' and no extreme outflows have followed," says the firm. But a rebuilding in the balances of miners has yet to begin in earnest, says CryptoQuant. Bitcoin falls 2.6% to $81,272. (kirk.maltais@wsj.com)

1215 ET - The Seminole Tribe of Florida filed a lawsuit against DraftKings alleging the sports-betting platform's prediction markets app constitutes illegal gambling. The tribe says in its lawsuit that DraftKings' super app, which offers prediction markets in states where sports betting is illegal, is "functionally identical" to the company's licensed sportsbook offerings. There is no distinction between a bet placed through DraftKings' sportsbook and a trade placed on its prediction markets platform, the tribe claims. The tribe also notes that DraftKings' marketing for the prediction markets product includes a gambling addiction hotline and ads for bonus wagers.