Why Mattel's Stock Jumped 11.5% Today
Shares of toy maker Mattel (NASDAQ: MAT) jumped as much as 11.5% in trading on Wednesday after the company announced a long-term agreement with Disney (NYSE: DIS). Shares held strong gains through midday and are up 8.7% at 12:30 p.m. ET.
Mattel has agreed to a multi-year global license for Disney Princess and Frozen franchises. This will give the company the right to create lines of toys, games, and books based on these characters.
Source Fool.com