Why Disney Shares Are Trading Higher Today

The Walt Disney Co DIS is trading higher Friday after the company resolved its lawsuit concerning "Black Widow."

Disney announced it settled the breach of contract lawsuit that the "Black Widow" star Scarlett Johansson brought against the company. Johansson said Disney had guaranteed an exclusive theatrical release for the film, but the company released the film on its Disney+ streaming platform at the same time it was released in theaters.

The "Black Widow" star's salary was impacted by box office performance. Terms of the deal were not disclosed.

“I’m very pleased that we have been able to come to a mutual agreement with Scarlett Johansson regarding ‘Black Widow. We appreciate her contributions to the Marvel Cinematic Universe and look forward to working together on a number of upcoming projects, including Disney’s ‘Tower of Terror,'" said Alan Bergman, chairman of Disney Studios.

DIS Price Action: Disney has traded as high as $203.02 and as low as $117.23 over a 52-week period.

The stock was up 3.49% at $175.08 at time of publication.

Photo: courtesy of Disney.