Hasbro (HAS) was trading sharply higher Thursday morning, recently climbing 14%, after the toy company said it was extending a multi-year partnership with The Walt Disney Company's (DIS) consumer products unit to produce innovative toys and games for Disney's Star Wars and Marvel franchises.
The new contract extension furthers the companies' strategic merchandising relationship, allowing Hasbro to continue developing and manufacturing toys, collectibles, and board games based on new and classic Marvel and Star Wars entertainment.
Financial terms and other details of the new contract were not disclosed.
Disney shares also were advancing on Thursday, rising about 2% in morning trade.
Price: 60.11, Change: +7.42, Percent Change: +14.07
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