U.S. markets close in 5 hours 23 minutes

  • S&P 500

    3,735.82
    +32.76 (+0.88%)
     

  • Dow 30

    30,495.34
    +295.47 (+0.98%)
     

  • Nasdaq

    12,870.12
    +65.38 (+0.51%)
     

  • Russell 2000

    2,012.51
    +8.56 (+0.43%)
     

  • Crude Oil

    48.21
    -0.02 (-0.04%)
     

  • Gold

    1,897.90
    +14.70 (+0.78%)
     

  • Silver

    26.76
    +0.85 (+3.29%)
     

  • EUR/USD

    1.2226
    +0.0009 (+0.07%)
     

  • 10-Yr Bond

    0.9550
    +0.0290 (+3.13%)
     

  • GBP/USD

    1.3483
    -0.0061 (-0.45%)
     

  • USD/JPY

    103.7350
    +0.1630 (+0.16%)
     

  • BTC-USD

    27,040.20
    -115.53 (-0.43%)
     

  • CMC Crypto 200

    507.08
    +2.79 (+0.55%)
     

  • FTSE 100

    6,502.11
    +6.36 (+0.10%)
     

  • Nikkei 225

    26,854.03
    +197.42 (+0.74%)
     

Nintendo seals court victory against knock-off 'Mario Kart' tour company

Steve Dent
·Associate Editor
·1 min read

A judge has confirmed Nintendo’s court victory over a go-kart company that did Mario Kart-themed tours on the streets of Tokyo, Engadget Japan reports. Early this, year, MariCar (now branded as Street Kart) was ordered to pay Nintendo $50 million yen ($483,000) for violating its IP rights. The company appealed, but Japan’s Supreme Court dismissed it, upholding Nintendo’s earlier win.

Nintendo first sued Mari Mobility, aka MariCar, back in 2017. Other companies offered similar tours, but MariCar’s IP breach was particularly noticeable because it let drivers dress up as Mario Kart characters. Nintendo also felt its name could be sullied by safety issues, which proved to be a valid concern after several accidents.

MariCar lost the initial judgement and was ordered to pay 10 million yen ($97,000) and subsequently made the perhaps ill-advised move of slapping “unrelated to Nintendo” signs on the cars. Following an appeal, the judgement was boosted to 50 million yen.

In the meantime, Street Kart has been losing customers in droves due to the COVID-19 crisis. A subsequent crowdfunding campaign failed dismally, possibly because the karts are as despised by locals as they are liked by tourists, as SoraNews24 reported. Nintendo, on the other hand, is giving fans a chance to experience the game for real on its upcoming Mario Kart AR rollercoaster as part of Super Nintendo World, opening in the spring of 2021.

Latest Stories

  • Is my stimulus check taxable income? Will my stimulus reduce my tax return? Confusion and myths about the second stimulus

    Congress passed the relief bill on Monday and it awaits President Donald Trump gave into his misgivings over the relatively modest sign of the stimulus, among other concerns, and on Sunday signed the massive pandemic-aid bill, averting a government shutdown in the process. At the same time, the new set of stimulus checks do have some new rules for certain scenarios, like for people who are behind on child support or married to a non-citizen. Treasury Secretary Steven Mnuchin said Monday these economic impact payments could start arriving in bank accounts next week.

  • Congress is giving you a new stimulus check — here's when to expect it

    How much will you get — and when can you expect the money?

  • Is the Market Skating on Thin Ice?

    While no sell signals have appeared on the charts to date, investor sentiment levels and extended valuation continue to suggest the market's shock absorbers are very weak, leaving the markets vulnerable to any unforeseen negative news.

  • I’m 52, won’t live past 80 and have $1.6 million. ‘I am tired of both the rat race and workplace politics.’ Should I retire?

    I can easily live on a $60,000 budget (including taxes) but often it is less than that. Health insurance is probably one of the most crucial — if not the most crucial — consideration you’ll need to make before you leave your job.

  • Trump has signed the stimulus checks bill — so when do you get your money?

    Payments of $600 are in the works now. But the president still hopes for $2,000 checks.

  • McKesson Stock May Be the Real Covid Vaccine Winner. Here’s Why.

    The Moderna shots alone could be worth as much as $1 billion to McKesson’s 2021 revenue and $1 a share to its earnings, says analyst Ricky Goldwasser.

  • These Are the 12 Most Overvalued Stocks in America Right Now

    2020 has been a year of monster gains for individual stocks, with companies like Tesla seeing a triple-digit rise.

  • Lemonade Falls With Lockup to Expire After Year’s Best IPO

    (Bloomberg) -- The best-performing listing of 2020 is poised to enter the new year with extra volatility after insider selling restrictions expire this week. Shares fell as much as 13% on Monday, the most since Sept. 4 and worst in the Russell Midcap Index.Insurance provider Lemonade Inc. is trading more than 350% above its July 1 initial public offering price, the best of any 2020 debut above $300 million, according to data compiled by Bloomberg. But roughly 44 million additional shares -- mostly held by insiders -- will be eligible for sale on Tuesday, according to the IPO prospectus.The company’s shares have soared on the promise of its digital platform in carving out a niche for renters and homeowners, according to Bloomberg Intelligence research. In the past month, the stock has nearly doubled on gaining optimism the group will also be able to expand into new markets like pet and auto insurance.Despite the acceleration over the past few weeks, Piper Sandler analyst Arvind Ramnani wrote in a note dated Dec. 15. that the firm remains positive “as the long-term opportunity for the company warrants an expanded multiple.”Traders are bracing for volatility as affiliates -- including all of the company’s directors and executive officers -- hold more than 38 million shares subject to the lockup. That compares to 15.8 million shares available to trade as of Nov. 12, according to data compiled by Bloomberg. Of that, 24% are sold short, according to financial analytics firm S3 Partners.This will be the second lockup expiration for the remaining two thirds of shares subject to the lockup agreement after the first expiry in November.Top holders include SoftBank Group Corp and Sequoia Capital Operations LLC.(Updates to add Monday’s intraday trading in first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Here’s where to invest your money before traders start ‘rotating, if not stampeding’ out of stocks, according to one Warren Buffett disciple

    Earlier this year, Berkshire Hathaway threw its heavyweight name behind Barrick Gold with an investment that flew in the face of Warren Buffett's longtime aversion to gold. The news was "earth-shaking in the gold market," one strategist said at the time.

  • 20 electric vehicle stocks besides Tesla and Nio that analysts expect to rise the most over the next year

    Analysts favor companies that supply EV manufacturers or develop technology to support infrastructure and autonomous driving.

  • I’m 65, have $500,000 in cash, no ‘impressive’ work résumé and am terrified of investing — can I retire?

    Now the bad news:  – Other than anticipated Social Security (approximately $1,300/month if I wait until full retirement age, $1,200/month if I retire at 65), I have no pension or other income streams. – I don’t have an impressive work résumé that could lead to lucrative employment in retirement. Is there some way I can make $500,000 in savings last, especially given the abysmally low interest rate environment?

  • I’m 63, my husband is 70, we’ll have $90,000 a year in retirement — how can we claim our Social Security benefits?

    It will certainly be something to celebrate, and that you’ve already figured out what your retirement income will be is a great start. Americans qualify for survivor benefits in a few scenarios, including if they are a widow or widower age 60 or older; a divorced spouse from a marriage that lasted 10 years and who did not remarry before age 60; or a widow or widower at any age caring for the deceased’s child under age 16. Spousal benefits can be very confusing, said Kate Gregory, a financial planner and president of Gregory Advisors Inc. As a spouse, you’re entitled to 50% of your husband’s primary insurance benefit that he’d receive at his Full Retirement Age (FRA, which in his case is 66 years old), but he has to have filed for his benefits before you can do so.

  • 3 Monster Growth Stocks That Can Charge Forward in 2021

    With 2020 winding down, there’s a growing belief that 2021 is going to be a growth year for the stock markets. The US elections have returned a divided government, one unlikely to have the broad majorities – or the broad support – needed to enact wide-ranging reform legislation from either the right or left, and that bodes well for the economy generally.The COVID vaccines are entering distribution, and while new anti-virus lockdowns are also getting set in place, there’s a feeling that the end of the pandemic may be near. According to the analyst community, a few names reflect serious growth plays. These are stocks that have already notched impressive gains year-to-date, and are poised to see the growth keep on coming even after 2020 wraps up.   Bearing this in mind, we used TipRanks’ database to scan the Street for tickers that fall into this category. Locking in on three in particular, the analysts believe that each name, which also happen to boast a “Strong Buy” consensus rating, can keep the rally alive in 2021.  SunOpta (STKL)The first stock on this growth list is a health snack company, SunOpta. The company’s line of products includes plant-based beverages, fruit-based snacks, broth and stocks, teas, and sunflower and roasted snacks. The company markets through private label and co-manufacturing distribution, as well as through food service institutions.SunOpta boasts a market cap of $962 million, after a year of stunning share price growth. The stock is up an impressive 328% this year, far outpacing the general markets. The company’s Q3 revenues came in at $314.9 million, a 6.4% year-over-year gain. EPS, at a net loss of 1 cent, was better than the 2-cent loss expected – and far better than the 11-cent loss reported in the year-ago quarter.The company’s solid performance has attracted the attention of Craig-Hallum analyst Alex Fuhrman. The analyst rates STKL a Buy along with a $15 price target. This figure implies a one-year upside of 40% from current levels. (To watch Fuhrman’s track record, click here)Backing his stance, Fuhrman wrote, “We believe the company’s focus on high value plant-based foods and beverages should command a premium valuation with opportunities for upside to estimates as the economy recovers from COVID.”In large part, Fuhrman’s optimism is based on SunOpta’s niche. The analyst noted, “We expect plant-based food stocks to command a premium valuation to other food companies for the foreseeable future given faster growth trends and compelling environmental benefits. At just $4.5B in sales today, plant-based products are less than 1% of the $695B grocery market, but it is easy to envision it representing a double-digit share of grocery sales over time.” Wall Street doesn’t always come together in unanimity, but in this case, it does. SunOpta’s Strong Buy analyst consensus rating is unanimous, based on 3 Buy reviews. The stock is selling for $10.70, and with an average price target of $15, SunOpta has a forward growth potential of 40%. (See STKL stock analysis on TipRanks)Green Brick Partners (GRBK)One bright spot in the economy this past year has been the home construction industry. As people moved out of the cities to avoid COVID, they headed for the suburbs and exurbs – and that boosted the demand for single-family homes. Green Brick is a land development and home acquisition company, based in Texas. The company invests in real estate, primarily land, and then provides plots and construction financing for the development projects.The spread of the suburbs – not just in this COVID year, but as a general trend, has been good to Green Brick. The company’s Q3 revenue was $275.8 million, the best in more than year, beating the forecast by 20% and growing 31% year-over-year. EPS was also strong; the Q3 value, 68 cents, was 54% above expectations, and more than double the year-ago value.Green Brick’s share price has been rising along with the company’s financial outlook. For the year, GRBK has gained 111%.In his coverage of this stock, JMP analyst Aaron Hecht noted, “[We] expect GRBK to capitalize on the trend of apartment renters shifting to single-family homes for safety and changing dynamics brought on by more workers telecommuting. The most important cohort shift within the buyer pool is millennials who have come off the sidelines to buy homes, a trend which we believe has multiple years of runway. The millennial demand trend is magnified in GRBK’s case given its outsized exposure to markets, such as Texas & Atlanta, which are the net beneficiaries of migration out of high-priced coastal geographies.”To this end, Hecht rates GRBK an Outperform (i.e. Buy), and his price target of $30 implies an upside of ~23% for the next 12 months. (To watch Hecht’s track record, click here)While not unanimous, the Strong Buy consensus rating on Green Brick is decisive, with a 3 to 1 breakdown of Buys versus Hold. The average price target of $27.5 gives a 12.5% upside potential from the current share price of $24.45. (See GRBK stock analysis on TipRanks)Brightcove, Inc. (BCOV)Shifting gears to the software industry, we come to Brightcove, a Boston-based software company. Brightcove offers a range of video platform products, including cloud-based hosting and social and interactive add-ons. The company is a leader in the delivery and monetization of cloud-based online video solutions.The strength of such a business model, during these pandemic days with their massive shift of white-collar workers toward remote offices, telecommuting, and video conferencing, is obvious. Brightcove’s earnings hit 11 cents per share in Q3, nearly double the year-ago quarter. At the top line, revenues have been stable, holding between $46 million and $48 million per quarter in 2020, with no discernable COVID impact.Shares in Brightcove have been going up in steps all year, after a minor blip last winter. The pace has accelerated since the end of July, after the Q2 results were released, and the stock is now up 103% for 2020. The general macro headwinds are turning into video niche tailwinds, as noted by Northland Capital analyst Michael Latimore. “We believe a market tailwind, BCOV's leading tech platform, and strong sales execution are driving strong bookings. We believe the salesforce is at full productivity. BCOV will add more channel managers this year. Management is focused on process improvements to achieve consistency in revenue retention rates,” the 5-star analyst noted.Latimore rates the stock as Outperform (i.e. Buy), and his $24 price target indicates confidence in a 36% upside for the year ahead. (To watch Latimore’s track record, click here)Over the past 3 months, two other analysts have thrown the hat in with a view on the video tech company. The two additional Buy ratings provide Brightcove with a Strong Buy consensus rating. With an average price target of $20.17, investors stand to take home 14% gain, should the target be met over the next months. (See BCOV stock analysis on TipRanks)To find good ideas for growth stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Dow Jones Stocks To Buy And Watch In December 2020: Apple Approaches New Buy Point

    Among the Dow Jones stocks, Apple and Microsoft are among the top stocks to buy and watch in December 2020.

  • The Santa Claus Rally Just Started; 12 Stocks Gain Most

    The Santa Claus rally is a jolly gift S&P 500 investors usually get during the holidays. But the nature of the gains might surprise you.

  • There are six types of retirees — which are you?

    New retirees are like recent college graduates — they’re on their own after years of the same routine, and they have to find a new path to follow. This type of retiree ventures into the unknown, taking on a new job they’ve never done before.

  • Is Gilead Stock A Buy As The Company Expands Through Buyouts?

    Gilead Sciences is pushing deeper into cancer and hepatitis drug with acquisitions in 2020. But GILD stock was under pressure in 2020 despite a coronavirus drug. Is Gilead stock a buy?

  • Alibaba Probe Stirs Global Worry on What’s Next for Chinese Tech

    (Bloomberg) -- Alibaba Group Holding Ltd. led a second day of frenetic selling among China’s largest tech firms, driven by fears that antitrust scrutiny will spread beyond Jack Ma’s internet empire and engulf the country’s most powerful corporations.Alibaba and its three largest rivals -- Tencent Holdings Ltd., food delivery giant Meituan and JD.com Inc. -- have shed nearly $200 billion in Hong Kong over the two sessions since Thursday when regulators revealed an investigation into alleged monopolistic practices at Ma’s signature company. That marked the formal start of the Communist Party’s crackdown on not just Alibaba but also, potentially, the wider and increasingly influential tech sphere.“It is very hard to predict the outcome of the Chinese government’s ongoing investigation into Alibaba and other large consumer internet platforms,” Baird analyst Colin Sebastian wrote in a note. He cut his price target on Alibaba’s U.S.-listed shares to $285 from $325, citing “uncertainty around government oversight and potential for direct regulatory action in the coming year.”The company’s American depositary receipts fluctuated Monday -- after a historic 13% slide the previous session -- as volume passed the 12-month daily average in first half-hour, reflecting doubt over what’s going to happen next. JD.com fell 3.4% and Tencent declined 2.9%. The day’s Hong Kong trading was also fierce: Alibaba fell 8% Monday, shedding $270 billion of value since its October peak. Tencent and Meituan both tumbled more than 6%.KeyBanc Capital Markets wrote that this “significant” pullback had created an attractive buying opportunity, adding that it doesn’t anticipate a meaningfully different competitive landscape for the company.On Sunday, China’s central bank ordered Ma’s other online titan -- Ant Group Co. -- to return to its roots as a payments service and overhaul adjacent businesses from insurance to money management, spurring talk of an eventual breakup.Once hailed as the standard-bearers of China’s economic and technological ascendancy, Alibaba and its compatriots now face increasing pressure from regulators worried about the speed with which they’re amassing clout in sensitive arenas such as media and education and gaining influence over the daily lives of hundreds of millions. That concern crystallized in November, when regulators torpedoed Ant’s $35 billion initial public offering before unveiling draft rules enshrining sweeping powers to clamp down on anti-competitive practices in sectors from e-commerce to social media.“The Chinese government is putting more pressure or wants to have more control on the tech firms,” Jackson Wong, asset management director at Amber Hill Capital Ltd., said by phone. “There is still very big selling pressure on firms like Alibaba, Tencent or Meituan. These companies have been growing at a pace deemed by Beijing as too fast and have scales that are too big.”It’s unclear what concessions regulators may try to wring from Alibaba. Under the existing Antitrust Law -- now undergoing revisions to include the internet industry for the first time -- Beijing can fine violators up to 10% of their revenue. In Alibaba’s case, that could mean a levy of as much as $7.8 billion.China’s e-commerce leader on Monday raised a proposed stock repurchase program by $4 billion to $10 billion, effective for two years through the end of 2022. But the buyback program was overwhelmed by fears that the steps taken against Ant are just the tip of the iceberg. While the central bank stopped short of calling for a breakup, the financial services giant now needs to present specific measures and a timetable for overhauling its business.Read more: Ant Turning From Windfall to Nightmare for Global InvestorsThe State Administration for Market Regulation dispatched officials to Alibaba’s Hangzhou headquarters last Thursday and the on-site investigation was completed on the day, according to local news reports. The People’s Daily -- the Communist Party mouthpiece -- ran a commentary over the weekend warning Alibaba’s peers to take the antitrust investigation into Alibaba as a chance to lift their own awareness of fair competition.Ma, the flamboyant co-founder of Alibaba and Ant, has all but vanished from public view since Ant’s IPO got derailed last month. As of early December, the man most closely identified with the meteoric rise of China Inc. was advised by the government to stay in the country, a person familiar with the matter has said.Ma isn’t on the verge of a personal downfall, those familiar with the situation have said. His very public rebuke is instead a warning Beijing has lost patience with the outsize power of its technology moguls, increasingly perceived as a threat to the political and financial stability President Xi Jinping prizes most.Investors remain divided over the extent to which Beijing will go after Alibaba and its compatriots as Beijing prepares to roll out the new anti-monopoly regulations. The country’s leaders have said little about how harshly they plan to clamp down or why they decided to act now.Some analysts predict there’s a crackdown coming, but a targeted one. They point to language in the regulations that suggests a heavy focus on online commerce, from forced exclusive arrangements with merchants known as “Pick One of Two” to algorithm-based prices favoring new users. The regulations specifically warn against predatory pricing -- selling below cost -- to weed out rivals.“As this latest investigation occurs at a time when China is ready to take action against monopolistic practices, we think SAMR might want to use BABA’s case as a precedent to send a message to the rest of the industry that the authority is determined this time to address the” pricing issue, Nomura analysts wrote in a note Monday.(Updates to open of U.S. trading, adds KeyBanc comments in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Nano Dimension stock slides 12% premarket after company sells shares at a discount

    Shares of Nano Dimension Ltd. , an Israel-based 3D printing company, tumbled 12% in premarket trade Monday, after the company priced a share offering at a discount. Nano Dimension said it sold 33.3 million ADS at $7.50 per ADS in a registered direct offering, below its closing price Friday of $8.81. Proceeds will be used for working capital and general corporate purposes, including potential deals. The stock has gained 248% in 2020 to date, while the S&P 500 has gained 16%.

  • DraftKings, Skillz SPAC Team Launch $1.5 Billion Spinning Eagle: What Investors Should Know

    A well-known SPAC team is launching a $1.5 billion offering that could be highly anticipated by investors given their history in the space.Spinning Eagle Acquisition Corp: A new SPAC called Spinning Eagle Acquisition Corp filed for registration on December 23.The SPAC is seeking to sell 150 million units at $10 each to raise $1.5 billion. Each unit will include one-fifth of a warrant to buy a common share at $11.50. Underwriters will have the option to buy an additional 22.5 million units.Common shares will trade as SPNG on the Nasdaq and be available for around 52 days after the offering was filed.The Management Team: Spinning Eagle Acquisition Corp is led by Harry Sloan, Eli Baker and Jeff Sagansky. Sloan, former CEO of the MGM movie studio, is serving as the CEO and chairman, with Baker acting as president and chief financial officer. Sagansky is a founding investor.The duo of Sloan and Sagansky have been partners on many SPACs over the years, with Baker involved on many of the recent ones.Sagansky is also part of the team at Falcon Capital Acquisition Corp (NASDAQ: FCAC), a SPAC launched with Treasury Secretary Steven Mnuchin's brother Alan G. Mnuchin.Related Link: Sports Betting ETF Co-Founder Talks SPACs, Undervalued Foreign Exchange PlaysPast SPACs: The team behind Spinning Eagle Acquisition Corp has years of experience in the SPAC industry including two recent success stories with DraftKings Inc. (NASDAQ: DKNG) and Skillz Inc. (NASDAQ: SKLZ).Flying Eagle Acquisition raised $690 million with units that included one-third of a warrant in January 2020. The company announced their merger with Skillz, valuing the mobile gaming company at $3.5 billion.Diamond Eagle Acquisition raised $400 million in April 2019 with units that also included one-third of a warrant. The company merged with DraftKings in a deal that valued the sports betting company at $2.7 billion.The company also did deals that included Target Logistics, Williams Scotsman, Global Eagle Entertainment and Videocon, which is now part of Dish TV India.DraftKings has been one of the best performing SPACs of the year with shares trading at $52.11, up over 400% from their $10 offering price. Shares have traded as high as $63.78 this year.Skillz shares trade at $19.02, up 90% from their $10 offering price. Shares have traded as high as $22.73 this year.SPAC Target: The new SPAC is targeting a company that can benefit from the management team. No sector or geographical area is singled out as a focus, but the filing does mention the management team's experience in media and entertainment.The team is targeting a company that is in a high growth industry, and has revenue or earnings growth and free cash flow generation.If the company does not find a target company, plans could include forming a separate blank check company referred to as SpinCo.Benzinga's Take: Given the team's experience with SPACs and the recent success with DraftKings and Skillz, this will be a highly anticipated SPAC offering.Units and common shares will be in high demand and could trade at a premium.Given the size of the SPAC, it is one of the largest offerings in 2020 and could land a huge company. The company's focus on revenue and earnings generation could bring in a well-known and growing company that could be well received by investors.Photo credit: World Poker Tour, FlickrSee more from Benzinga * Click here for options trades from Benzinga * Need A Stocking Stuffer? DraftKings Now Has Sports Betting Gift Cards * New Jersey Sets Monthly Record For Sports Betting: A Look At The Winners And Why New York Needs To Legalize(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.