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TheStreet Open House

'Fast Money' Recap: Investors Like Facebook

NEW YORK ( TheStreet) -- The S&P 500 opened higher, but ultimately closed in the red after failing at the 1,700 level.

In a busy week full of earnings, Facebook (FB) was among those that stood out. The company beat both top- and bottom-line estimates and, as a result, traded higher by roughly 20% in Wednesday's after-hours session. On CNBC's "Fast Money" TV show, Guy Adami said he doesn't think FB will get back its IPO price of $38 anytime soon.

Adami added that mobile monetization was much better this quarter than last, but he wouldn't chase the stock. He said Thursday will have a lot of volume and a top will probably be seen on Friday, which is when he recommended investors should sell it if they were long going into the report.

Dan Nathan said that while mobile advertising is doing much better, he still prefers Google (GOOG). He noted that Facebook was up about 16% on the year going into the report and there should be plenty of resistance near $32.

Jon Najarian said there were a lot of buyers in the last couple of minutes of trading. He suggested that regulators may look into the tens of thousands of call options purchased and put options sold, both of which are long positions.

Karen Finerman also prefers Google over Facebook, but acknowledged Facebook is improving. However, she said she would not be a buyer on Thursday.

Qualcomm (QCOM) also reported earnings on Wednesday, with in-line earnings per share and a beat on revenue estimates. Adami said he thinks Qualcomm is trading where it should be and doesn't think next quarter's guidance is all that great. He added he would not be a buyer on Thursday.

Visa (V) beat on top- and bottom-line estimates after Wednesday's close. Finerman said she is long MasterCard (MA), but Visa put up another good number. She added that both stocks shook off the European news regarding lower transaction fees well, but that Visa isn't cheap.

Caterpillar (CAT) was highlighted as one of hedge fund manager Jim Chanos' top short candidates of the year at last week's Delivering Alpha Conference. Putting more downward pressure on the stock was its top- and bottom-line earnings miss on Wednesday morning.

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