Higher Open As iPhone Sales Start In Asia
The markets opened higher with the Dow gaining 48 points to 13,645 as sales of the Apple iPhone 5 began in Asia. Nasdaq rose 18 points to 3194.
On the upside
Apple's (Nasdaq: AAPL) iPhone 5 uses power amplifier modules from Skyworks Solutions (Nasdaq: SWKS).
Michael Kors (NYSE: KORS) lifted its earnings guidance for the second quarter and full year.
The Food and Drug Administration will allow ViroPharma (Nasdaq: VPHM) and Halozyme Therapeutics (Nasdaq: HALO) to resume clinical trials of their hereditary angioedema treatment Cinryze.
On the downside
Vivus (Nasdaq: VVUS) warned that European regulators may reject its obesity treatment Qsiva.
Green Mountain Coffee Roasters (Nasdaq: GMCR) named Michael Jacobs to the position of chief logistics officer and Michael Cunningham as chief information officer.
Moody's Investors Service downgraded Blyth (NYSE: BTH) to a Negative rating.
In the broad market, advancing issues outpaced advancers by a margin of nearly 3 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 859.
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