Mattel's stock jumps after expanded licensing deal with Disney for Pixar film characters
Shares of Mattel Inc. shot up 6.2% in premarket trade Wednesday, after the toy maker announced the expansion of its licensing deal with Walt Disney Co. for Disney's Pixar Animation Studios. The expansion will include new titles and the design and development of toys inspired by characters from Pixar's films, such as "Coco," "Finding Nemo," Monsters, Inc.," "The Incredibles" and the upcoming "Onward." The new agreement builds on Mattel's relationship with Disney and Pixar, which includes "Toy Story 3" and the "Cars" franchise. "Pixar is a legendary animation studio renowned for creating some of the most iconic and diverse sets of characters," said Mattel Chief Franchise Management Officer Janet Hsu. Mattel's stock has rallied 22% year to date through Tuesday, while Disney shares have soared 25% and the Dow Jones Industrial Average has gained 14%.
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