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.