Stocks Open Modestly Higher, Bill Gross to Leave Pimco for Janus

Stocks opened modestly higher Friday after a big sell-off Thursday. Investors are weighing the latest GDP report as they await the final reading of consumer sentiment later this morning. The U.S. economy grew at the fastest rate since 2011 in the second quarter. GDP came in at 4.6% matching economists forecast and up from the previous reading of 4.2%. 'Bond King' Bill Gross is leaving Pimco for Janus Capital Group (JNS). Gross founded and headed PIMCO for four decades. Janus stock is sharply higher on the news. Shares of Blackberry (BBRY) are higher. Before the bell, Blackberry reported a smaller-than-expected quarterly loss but missed revenue. Apple (AAPL) is trying to recover after selling off sharply on its iPhone 6 and software issues. The company came out and defended itself Thursday saying bending is 'extremely rare' with normal use. Apple also released a software update to fix glitches.