Gene-Editing Stocks Jump; Howard Stern’s $120 Million Deal

In what’s proven to be an up-and-down week, stocks bounced back from Tuesday’s losses as President Donald Trump seemed to reverse the hard stance against further stimulus he articulated just the day before.

Wall Street, ever welcoming of further fiscal stimulus, cheered the White House’s apparent shift in philosophy, and all three major U.S. indices rose on Wednesday.

The Dow Jones Industrial Average rose 530 points, or 1.9%, to finish at 28,303.

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Gene-editing discovery earns a Nobel Prize. Gene-editing stocks like Crispr Therapeutics (ticker: CRSP), Editas Medicine ( EDIT) and Intellia Therapeutics ( NTLA) all rose on Wednesday after the two scientists, who discovered the Crispr/Cas9 gene-editing technique, were given the Nobel Prize in chemistry.

Emmanuelle Charpentier and Jennifer Doudna each co-founded companies to capitalize on their discovery, which is a promising new way to reprogram the DNA of cells that may be spreading diseases in the body.

Howard Stern: vital to Sirus stock. Sirius XM ( SIRI) shareholders likely know this already, but “shock jock” Howard Stern is a vital part of the company’s success. That’s why the subscription radio service is reportedly close to reaching a $120 million per year deal with Stern to extend his contract, as he’s brought in millions of listeners and his show continues to be popular.

Stern also enjoys negotiating power as competitors in podcasting threaten to erode Sirius’ business — making it all the more important to retain the exclusive talent already on their roster.

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