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Spider-Man is chasing armed robbers through time square. Little does he know that the Black Cat is taking pictures of her favorite superhero. She then leaps across rooftops to her target of the night - a museum housing a statue know as the Golden Lovers. She is spotted by a guard and Spider-Man is alerted. She gains the upper hand but not before he uses his web to take the statue from her.
Peter then goes back the the Daily Bugle where Robbie Robertson is acting strangely. Peter shows his concern and is yelled at by Robbie. Outside the office, Peter runs into Randy Robertson who is also concerned about his father. Robbie eventually realizes that he is acting just like Jonah as publisher of the Bugle. Peter then meets with his new boss Barney Bushkin, who requests that Peter try to get along with his other photographer April.
Later, Felicia is staking out the museum again to make a second attempt at the statue. This time she plants gas pellets to take out the guards. At the same time Peter is meeting with his blind date set up by Flash Thompson but it becomes apparent he cannot date her because she will be his student soon and that would not be ethical.
That night Black Cat makes her second try at stealing the Golden Lovers. Spider-Man shows up and has the upper hand until Black Cat starts trying to break museum artifacts, which Spider-Man cannot allow to be broken. Black Cat causes a pile up of museum pieces to fall on Spider-Man, escaping with the statue.
Meanwhile, J. Jonah Jameson wakes up in an alley with amnesia and runs into Jonas Harrow, claiming to be a friend.
Finally, Black Cat makes an appearance at an auction and steals the Rajah Ruby. Taking it back to her home she reveals the two items are only half of the prizes she plans to take - her final goal.