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Billiards table maker $BC said it has acquired Cybex International, a fitness equipment maker, for $195MM. Cybex will join $BC's Life Fitness Division. $BC expects Cybex to add $0.08 to EPS in 2016, bringing adjusted EPS to $3.35-3.50. By 2018, Cybex will add an incremental $0.20 to EPS, which raises targeted adjusted EPS to $4.55-4.95.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."