U.S. indexes are attempting to shake off yesterday's losses, as traders eye European Central Bank (ECB) President Mario Draghi's latest easing measures, and await more comments from Fed Chair Janet Yellen. Among the equities in focus are biotech interest bluebird bio Inc (NASDAQ:BLUE), retail concern Sears Holdings Corp (NASDAQ:SHLD), and drugmaker Foamix Pharmaceuticals Ltd (NASDAQ:FOMX).
FOMX is up 8.4% at $8.64, bringing its year-to-date lead to more than 14%, on the news that its treatment for acneiform rash associated with some cancers had positive results in its Phase II clinical trial. Analysts may be unsurprised by this rally by Foamix Pharmaceuticals Ltd -- which was trending sideways until November -- as all five brokerages covering FOMX give it a "strong buy." Today's news will likely have short sellers sweating, though, as 7.2% of the stock's float is sold short -- more than 10 times FOMX's average daily trading volume. If bears abandon their positions, a short-covering rally could send the shares even higher.
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