NYSE Euronext (NYX) is ripping higher by more than 30% today on news that it will be purchased by IntercontinentalExchange (ICE) for a stock and cash deal worth $8.2 billion. The deal will give ICE, an operator of global futures exchanges and other OTC functions, control of one of the most venerable names in finance in the form of the New York Stock Exchange.

In a sign of the times, the NYSE is actually a relatively small portion of the deal for ICE. Physical exchanges are anachronisms, as much television studios as trading floors. This deal is about ICE getting NYSE Euronext's Liffe division, which is a leading market for derivative products.

The deal won't have an impact on the average equity investor. As my Breakout partner Matt Nesto says in the attached video, "most investors are exchange agnostic; they put in an order and in this day and age you don't know where it's going."

Reassuringly, the NYSE will remain a physical symbol and heart of American capitalism. As for where the

For Apple (AAPL) shareholders waiting for their beloved stock to recover, there's good news and bad news. First the bad news: Unless or until Apple comes up with another hot product, the stock has likely put in its all time highs. The iPhone and iPad remain the leaders in their categories but the gap is closing and margins eventually will do the same.

Eric Jackson, founder of IronFire Capital says not to worry, help is on the way in the form of the long-awaited Apple Television. Citing the work of Morgan Stanley analyst Katy Huberty, Jackson says Apple's earnings could double just off iTV in the next two years.

Based on extensive consumer surveys Huberty estimates that Apple could sell 13 million TV sets at over $1,000 a piece within 12 months of introduction. That alone would add $14 billion to revenues and $4.50 to earnings. Therefore revenue and earnings estimates of $220 billion and $57 respectively, will have to be moved higher on a base case.

Jackson takes it another step further, noting that Huberty's data was only based on U.S. consumers calling themselves "very interested" in buying an iTV unit. Expanding that to include those who are "somewhat interested" brings in an additional 43 million units. Assuming Apple continues to do 2/3 of its sales overseas bumps the total potential target market for iTV to as much as $168 billion in revenues and $54 dollars in earnings.