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. 

Image source: Getty Images.

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Source Fool.com