'Fast Money' Recap: Bullish on Amazon

NEW YORK (TheStreet) -- It was all about Amazon.com's(AMZN) in after-hours trading.

For the day, the Dow Jones Industrial Average jumped 131.95, or 1.33%, to 10,081.31, while the S&P 500 was up 11.51, or 1.06% to 1,092.91. The Nasdaq added 14.56, or 0.68%, to 2,165.29.

Amazon was up 15% in after-hours trading and reached an all-time high of $107.13 . Pete Najarian said on CNBC's "Fast Money" TV show that the most impressive part of Amazon's earnings was its international revenue growth which was up 33%. He also said the guidance was "off the charts."

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Joe Terranova said he wants to want to own Amazon because ecommerce is up 10% in 2009, and the Internet retailing giant is getting most of the market share.

Tim Seymour said Amazon is a trade that investors can hold on to because it has made a "paradigm move." He said he will ride it through the fourth quarter.

Najarian noted an RBC analyst put a $120 price target on Amazon, adding the stock managed to surge higher despite multiple ugrades leading into earnings.

Melissa Lee, the moderator of the show, wondered whether Amazon's margins might be squeezed by the price wars it has been having with Wal-Mart (WMT) over best-selling books.

Karen Finerman said the margins might not be affected that much because she had heard Kindle users buy two to three times more books than brick-and-mortar buyers. Still, she said it was difficult for her to get into the trade because the stock is trading at a lofty 55 times earnings.