'Fast Money' Recap: Disney Delivers

The U.S. stock market finished Tuesday in the green despite bad news from financial services companies and rising oil.

On CNBC's "Fast Money" TV show, the traders discussed earnings reports from Cisco (CSCO - Cramer's Take - Stockpickr) and Disney (DIS - Cramer's Take - Stockpickr).

Cisco's earnings were solid, but the company offered slightly light guidance for revenue. Jeff Macke said that CEO John Chambers tends to be a "wild card" on the conference call. Macke said Chambers is sandbagging a bit on guidance.

Pete Najarian said Cisco has set up over the past couple weeks as other tech names reported earnings. He said Juniper (JNPR - Cramer's Take - Stockpickr) is a good way to piggyback off Cisco's earnings. He also observed that Cisco appears to be holding on to gains it has made in the past two weeks.

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Regarding Disney, Macke said the numbers "crushed." He said that the company has improved operating results in theme parks, improving the amount the business contributes to the bottom line.

Guy Adami said he'd rather own Disney than Cisco. Karen Finerman agreed, saying she understands Disney's business better. Adami said Cisco shares have had a "monster run." He said the quarter was fine but recommended trading profits. On the other hand, Disney is still compelling on a valuation basis, he said.

Najarian said there is a lot of room to the upside for Cisco. He said investors have begun buying into financials and tech.

Macke said Disney is cheap on a valuation basis and compared the stock to Apple (AAPL - Cramer's Take - Stockpickr). He said both companies are on a remarkable creative roll. Najarian said he likes both companies but prefers Cisco.

Fannie Pack

Fannie Mae (FNM - Cramer's Take - Stockpickr) shares opened lower today then flipped to the upside. Finerman said the company's earnings report was "horrific," but no one cares. She pointed out that the company is raising $6 billion in capital and cut its dividend. She applauded the dividend cut, saying the company can better use that capital in other areas. She said her fund sold Fannie Mae shares today.