Core Viewpoint - A proposed settlement in a long-running merchant lawsuit would provide retailers with increased flexibility to block rewards cards, although the potential backlash from customers remains uncertain [1] Group 1 - The settlement aims to give stores more autonomy in managing payment methods, particularly regarding rewards cards [1] - Retailers may face a dilemma between exercising this newfound freedom and maintaining customer satisfaction [1]

Core Insights - Visa and Mastercard have reached a revised settlement with merchants regarding allegations of excessive charges for credit card acceptance [1] Group 1 - The settlement addresses claims made by merchants against the card networks [1] - The revised terms of the settlement were disclosed in a court filing on Monday [1]

Market Overview - U.S. equity markets are expected to open strongly due to improved investor sentiment following a bipartisan deal in the Senate to end the government shutdown [1][3] - Major index futures are showing gains, with S&P 500 futures up approximately 0.7% to 0.9%, Nasdaq 100 futures up 1.2% to 1.5%, and Dow Jones futures up 0.1% to 0.4% [2][4] Economic Impact - The government shutdown, lasting 40 days, has created significant economic uncertainty, delaying crucial data releases and impacting various sectors [3] - The resolution of the shutdown is anticipated to lead to the release of delayed economic reports, including the Consumer Price Index (CPI), initial jobless claims, retail sales, and Producer Price Index (PPI) for October [5] Company Developments - Nvidia (NVDA) saw a 7% stock decline last week but is expected to recover as optimism returns to the tech sector, with CEO Jensen Huang requesting TSMC to increase chip supplies for AI technology [7] - Apple (AAPL) recently surpassed a $4 trillion market value, indicating the strength of major tech players [11] - Pfizer (PFE) has agreed to acquire Metsera for up to $10 billion, winning a bidding war against Novo Nordisk [11] - CoreWeave ([CRWV]) is set to release earnings today, with shares having more than doubled since going public, driven by deals with Nvidia and Meta [11] - Toyota Motor Corporation (TM) unveiled a new Battery Electric Vehicle (BEV) model, part of its strategy for carbon neutrality [11] - Visa (V) and Mastercard (MA) are nearing a deal with merchants that could reshape the credit card rewards landscape [11] - UPS (UPS) and FedEx (FDX) may face operational impacts due to the FAA grounding MD-11 planes following a recent crash [11] - Diageo (DEO) appointed former Tesco boss Dave Lewis as its new chief [11] - Nomad Foods (NOMD) reported lower revenue and earnings in Q3 2025, citing ongoing market headwinds [11] Upcoming Events - The week includes important economic updates, such as the German Harmonized Index of Consumer Prices (HICP) and Eurozone's Q3 GDP [6] - High-profile earnings reports are expected from companies like Cisco (CSCO), Applied Materials (AMAT), Walt Disney (DIS), and others [8]

Core Viewpoint - Visa and Mastercard are nearing a settlement with merchants that will lower interchange fees and provide more flexibility for merchants in card acceptance [2][3][5] Group 1: Settlement Details - The proposed settlement would reduce credit card interchange fees, currently between 2% and 2.5%, by an average of approximately 0.1 percentage points over several years [3] - Merchants would gain the ability to reject certain types of credit cards, allowing them to not accept all cards from a network if they choose [5][6] - The new agreement may categorize credit card acceptance into different types, such as rewards cards and commercial cards, which could impact consumer shopping behavior [5][6] Group 2: Legal Background - The legal battle began in 2005 when merchants accused Visa, Mastercard, and large banks of engaging in monopolistic practices regarding interchange fees and acceptance terms [7][8] - Previous attempts to settle, such as an agreement to reduce fees by 0.07 percentage points, were rejected by the court [8] Group 3: Consumer Impact - The potential changes could significantly affect consumers, as merchants may opt to decline high-fee rewards cards, which could lead to a loss of sales for those stores [5][6] - Research indicates that while many cardholders value loyalty rewards, only 20% redeem them at least once a month, suggesting varied consumer engagement with these benefits [9]

Core Insights - EVERTEC reported Q3 CY2025 results that exceeded market revenue expectations, with a year-on-year sales increase of 7.9% to $228.6 million, surpassing analyst estimates by 2% [1][6] - The company's full-year revenue guidance is set at $924 million, which is 2.1% above analysts' estimates [1] - Non-GAAP profit for the quarter was $0.92 per share, exceeding analysts' consensus estimates by 3.5% [1] Financial Performance - Q3 CY2025 revenue was $228.6 million compared to analyst estimates of $224.1 million, reflecting a 7.9% year-on-year growth [2] - Pre-tax profit for the quarter was $33.43 million, resulting in a 14.6% margin [2] - Adjusted EPS for the quarter was $0.92, beating analyst estimates of $0.89 by 3.5% [2] - Full-year adjusted EPS guidance is $3.59 at the midpoint, which is 3% above analyst estimates [2] - The company's market capitalization stands at $1.83 billion [2] Growth Trends - Over the last five years, EVERTEC has achieved a compounded annual growth rate of 12.4% in revenue, indicating strong long-term sales performance [3] - The annualized revenue growth over the last two years is 16.8%, which is above the five-year trend, suggesting recent demand acceleration [4]

Core Insights - Shift4 Payments' shares rose 5.3% after reporting third-quarter results that met Wall Street expectations, indicating strong growth in payment volume and revenue [1] - Payment volume increased by 25.7% year-on-year to $54.7 billion, surpassing analyst estimates, while gross revenue grew by 29.4% to $1.18 billion, aligning with forecasts [1] - Adjusted earnings per share reached $1.47, up from $1.04 in the same quarter last year, reinforcing investor confidence in the company's trajectory [1] Market Reaction - Following the initial surge, shares stabilized at $67.29, reflecting a modest increase of 0.2% from the previous close, suggesting a cautious market sentiment [2] - The stock has shown significant volatility, with 18 moves greater than 5% in the past year, indicating that while the recent news is considered meaningful, it may not fundamentally alter market perception [3] Competitive Landscape - The stock experienced a prior decline of 5.6% due to disappointing results from competitor Fiserv, which raised concerns about the overall sector and Shift4's performance [4] - Fiserv's negative outlook and revenue shortfall contributed to investor anxiety regarding Shift4's ability to meet its financial guidance, compounded by a strategic shift to slow down acquisitions [4] Performance Metrics - Shift4's stock has decreased by 37.9% year-to-date and is trading 46.5% below its 52-week high of $125.66, indicating significant market challenges [5] - An investment of $1,000 in Shift4 shares five years ago would now be valued at $1,235, reflecting modest long-term growth despite recent volatility [5]

Core Insights - Bilt has partnered with Rakuten to allow its members to earn points for online shopping across thousands of retailers, enhancing the value of its loyalty program [1][5]. Group 1: Partnership Details - The partnership enables Bilt's over 5 million members to earn Bilt points while shopping through Rakuten's platform, which includes more than 3,500 retailers [5][10]. - Bilt points can be redeemed for various rewards, including travel, fitness classes, and local dining [2][6]. Group 2: Points Value and Conversion - Each Bilt point is valued at approximately 2.2 cents, significantly higher than the typical 1 cent offered by other loyalty programs [7]. - Starting immediately, Bilt members will receive a 1:1 conversion rate when shopping through Rakuten, meaning $10 in Rakuten cash back translates to 1,000 Bilt points [7][9]. Group 3: Promotional Offers - Bilt members who register for Rakuten through the Bilt app can earn 2,500 bonus points after their first purchase of $25 or more [8][11]. - The partnership coincides with Rakuten's holiday event, which runs until November 10, offering additional cash back or Bilt points on various vendors [11][12].

Core Insights - Marqeta reported revenue of $163.31 million for the quarter ended September 2025, reflecting a year-over-year increase of 27.6% [1] - The earnings per share (EPS) was -$0.01, an improvement from -$0.06 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $148.97 million by 9.62%, while the EPS matched the consensus estimate of -$0.01 [1] Financial Performance Metrics - Total Processing Volume (TPV) reached $97.96 billion, surpassing the average estimate of $93.48 billion from two analysts [4] - Total platform services revenue was $155.77 million, exceeding the average estimate of $142.05 million, marking a 27.9% increase year-over-year [4] - Revenue from other services was $7.53 million, slightly above the estimated $7.37 million, representing a 22.1% year-over-year increase [4] Stock Performance - Marqeta's shares have declined by 11.3% over the past month, contrasting with a 1% increase in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [3]

Third Quarter 2025 Earnings November 5, 2025 Today's Presenters Barry McCarthy President and Chief Executive Officer Chip Zint Senior Vice President and Chief Financial Officer Brian Anderson © 2025 Deluxe Corporation Brian Anderson Vice President, Strategy & Investor Relations 2 Vice President, Strategy & Investor Relations 3 Cautionary Statement Statements made in this presentation regarding Deluxe, the company's,or management's intentions, expectations, outlook, or predictions about future results or eve ...

Core Insights - The article discusses the author's long-term interest in PayPal Holdings, Inc. (PYPL), highlighting the company's performance through various market conditions since 2024 [1]. Group 1: Investment Perspective - The author seeks asymmetric investment opportunities where potential upside significantly outweighs downside risks, indicating a focus on value and growth investments [1]. - The author emphasizes a preference for businesses that are currently overlooked or out of favor in the market, suggesting a contrarian investment strategy [1]. Group 2: Background and Experience - The author holds a Master's degree in Business Administration, providing a strong foundation in finance, strategy, and market analysis, which supports their investment insights [1]. - The author has over ten years of experience in the stock market, indicating a deep understanding of market dynamics and investment strategies [1].