Apple Card Draws Visa, Amex Bids

And, nCino's earnings come up short.

April 02, 2025

Today is Wednesday, April 2, 2025.

The Early Bird Index today is 69.74

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Apple Card Draws Visa, Amex Bids

There’s reportedly a fierce battle playing out between finance giants to be the next payment network for the Apple $AAPL ( ▲ 0.08% ) Card.

Details: The Wall Street Journal reported on Tuesday that Visa $V ( ▼ 0.52% ) offered Apple $100 million upfront to become the payment network for the Apple Card. American Express $AXP ( ▲ 1.59% ) is also reportedly in the mix for a bid.

Background: The Apple Card is currently using Mastercard $MA ( ▲ 0.28% ) as the payment network because Goldman Sachs $GS ( ▲ 1.74% ) is the issuing bank. Goldman wants to reportedly get out of the consumer card business. This is why players such as Visa and American Express are jumping in, hoping to take over.

Early Bird’s Nest Egg Gains: Both Visa and American Express recognize the strategic value of partnering with Apple due to its strong ecosystem and loyal customer base, making this a highly competitive bid.

  • For Visa, the Apple Card can provide the company with new market leadership in the competitive industry.

  • For American Express, its premium brand aligns well with Apple's customer-centric and high-quality focus.

Final Thoughts: While Visa’s stock is up 10% this year, American Express is down 9%. Meanwhile, Apple is down 8% in 2025.

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Notables

Notable Earnings Today: RH (NYSE: RH), BlackBerry (NYSE: BB), UniFirst (NYSE: UNF), Penguin Solutions (Nasdaq: PENG), AngioDynamics (Nasdaq: ANGO), Cognyte Software (Nasdaq: CGNT), Bassett Furniture Industries (Nasdaq: BSET), ClearSign Technologies (NYSE: CLIR), Franklin Covey (NYSE: FC), Resources Connection (Nasdaq: RGP).

Notable IPOs Today: Soulpower Acquisition Corporation (NYSE: SOUL), SmartStop Self Storage REIT, Inc. (NYSE: SMA), Top Win International Limited Ordinary Shares (Nasdaq: TOPW).

Notable Equity Crowdfunding Campaigns Ending Today: Gravity Power (PicMii), Anointed Florist (Honeycomb).

Notable Economic Events Today: ADP Nonfarm Employment Change (8:15 a.m. ET), Factory Orders (10:00 a.m. ET), Crude Oil Inventories (10:30 a.m. ET).

nCino's Earnings Come up Short

The financial technology company nCino $NCNO ( ▼ 1.03% ) plunged 29.30% in after-hours trading on Tuesday after posting mixed financial earnings results.

Financials: nCino reported earnings of 12 cents per share in the last quarter, which was lower than expected. Revenue reached $141.4 million, which was better than expected.

Details: While nCino introduced a $100 million stock buyback on Tuesday to boost the stock price, investors were not happy with the company’s lackluster outlook for the current year.

Final Thoughts: nCino’s stock was already having a bad 2025.

Newsmax Becomes the Meme Stock of 2025

Conservative cable channel Newsmax $NMAX ( ▲ 2.6% ) had its IPO on Monday and the stock is up 179%, cementing its status as the meme stock of 2025.

Final Thoughts: If history tells us anything it’s that meme stocks eventually fall back down to Earth.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.