Mattel Gains Over 2% - What's Going On?

Mattel, Inc. MAT shares are trading higher on Friday.

Yesterday, the company announced plans to develop a feature-length film based on Bob the Builder, the beloved animated children’s series.

The movie will be developed together with ShadowMachine, Nuyorican Productions, and Anthony Ramos, the company said in a press release.

The film will star Grammy-winning and Golden Globe and Emmy-nominated actor and recording artist Anthony Ramos, for the voice of Roberto, “Bob,” travels to the enchanting Island of Puerto Rico for a significant construction job. 

Bob’s journey will celebrate the vibrant and colorful textures of the Caribbean Latin nations and their people, the company said.

Robbie Brenner, President of Mattel Films, said: “We are thrilled to collaborate with our brilliant partners Anthony Ramos, Jennifer Lopez, Elaine Goldsmith-Thomas, Benny Medina, Alex Bulkley, Corey Campodonico, and Felipe Vargas on Bob the Builder, our first animated theatrical film.”

Following the success of Warner Bros’ “Barbie” movie, which grossed over $1.4 billion at the box office, Mattel has unveiled “Bob the Builder” as the latest addition to its slate of film and television projects, Reuters said in a report.

In 2011, Mattel acquired Hit, the owner of rights to “Bob the Builder,” “Thomas & Friends,” and other preschool properties, for $680 million.

Price Action: MAT shares are trading higher by 2.32% to $18.52 on the last check Friday. 

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