'Fast Money' Recap: Does Disney Bode Well for the Market?

The markets retreated Tuesday on profit taking.

The Dow Jones Industrial Average fell 16.09, or 0.19%, to 8,410.65, while the S&P 500 dropped 3.44, or 0.38%, to 903.80. The Nasdaq lost 9.44, or 0.54%, to 1,754.12.

Melissa Lee, the moderator of CNBC's "Fast Money" TV show, asked the panel if the 4% uptick in after-hours trading in the shares of Walt Disney(DIS Quote), whose second-quarter earnings beat expectations, will set the tone for the market on Wednesday.

Guy Adami said he didn't find Disney's earnings that compelling, noting the stock didn't deserve more than a 10 multiple. He said he would take profits here.

Jeff Macke felt Disney turned in a "nice quarter" with very impressive theme park numbers. Pete Najarian agreed, saying that the company performed well with its cable, media networks and theme parks.

Joe Terranova, who listened in on the conference call, said he was impressed with what he heard from CEO Bob Iger. Terranova said the company is focused on monetizing the online experience.

Lee asked the panel for comments on another stock moving in after-hours trading: Dow Chemical(DOW Quote), which was down 3.25%.

Adami said Dow Chemical's $1.63 billion stock offering is huge, adding he would be interested to see when and where it will price it. Historically, sizable offerings offer investors a "monster" opportunity to buy shares, he said.

Najarian said it would be a bullish sign for Dow Chemical, which was up 20% for the past five days, to hold on to a 3%-to-4% drop in after-hours trading.