Kroger May Have Been Pummeled Into Buy Territory; Netflix's Lone Bear Growls -- ICYMI Tuesday

Plenty to talk about today as Goldman Sachs & Co. (GS)  IBM Corp. (IBM)  and Bank of America Corp. (BAC)  and a host of other companies reported earnings with mixed results.

The show stealer, of course, was Netflix Inc. (NFLX) , the streaming giant that crushed earnings on Monday and watched its stock pop Tuesday some 14%. The run-up gave Reed Hastings' company a larger market cap than Time Warner Inc. (TWX)  , the latest traditional media powerhouse to be eclipsed by Netflix.

But sinces it's been nothing but good news for Netflix, we just had to find that contrarian take, if for nothing else but to give you some perspective.

TheStreet spoke with one Wall Street firm that is calling an $82 price target on the stock, more than half its current value. What gives? Find out his logic below.

So with the Nasdaq and S&P rushing to new records and the Dow Jones Industrial Average being the only declining index, you should dump your boring stocks and jump into sexier industries like tech, right? Not so fast.

According to Paul Price, one of the columnists at our premium site Real Money, shares of Kroger (KR) , America's largest pure-play grocery company, could be a good deal. Sure, Amazon.com Inc.'s (AMZN)  Whole Foods Markets (WFM)  purchase and the entry of German grocer Lidl into the U.S. has spooked some but Price, whose other calls include Korn/Ferry International (KFI) (up 55% over the past year) and Polaris Industries Inc. (PII)  (up 30% over the last 18 months), argues that the recent pummeling coupled with a nice dividend from the grocer provides a buying opportunity.

For further evidence that broad-based sector moves aren't the way to go we look no further than Canadian tech darling BlackBerry Ltd. (BBRY) . The company made a big percentage rally in April and May but prices seemed to have peaked in late May/early June and indications for our technical analyst Bruce Kamich seemed to have turned lower. How low can it go?

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Photo of the day: A winning return on investment

In 1994 Wall Street bond trader Leslie Alexander bought the Houston Rockets for $85 million. On Monday, the New Jersey native announced he is exploring a sale of the team, with an estimated value of $1.65 billion, according to Forbes. A deal at that price would translate into a return of more than 1,100% on his invested capital (about $144 million in today's cash) though it is hard to quantify the satisfaction of two NBA championships as well as host of other successes during his tenure with the team. Above Alexander is pictured holding the Larry O'Brien Trophy after the Rockets beat the Knicks for the NBA title in 1994, his first season as team owner.

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