NEW YORK (TheStreet) -- After selling off through the morning session the S&P 500 had a strong rally in the afternoon, closing up 0.68% and near session highs.
On CNBC's "Fast Money" TV show, the trading panel discussed Yahoo!'s (YHOO) bottom-line beat, decent guidance and Alibaba data.
Jon Najarian, co-founder of optionmonster.com and trademonster.com, was impressed with the company's mobile users growth. He added that its stake in Alibaba should push the stock higher.
Brian Kelly, founder of Brian Kelly Capital, questioned what would happen to Yahoo! after its stake in Alibaba is gone since its growth is relatively stagnant.
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Karen Finerman, president of Metropolitan Capital Advisors, said Alibaba will be "a monster." However, she's not participating via Yahoo! but through a long position in SoftBank.
Guy Adami, managing director of stockmonster.com, argued there's more to Yahoo! than Alibaba. He suggested that near $36 the stock was still cheap and that it should be trading above $40.
Robert Peck, managing director at SunTrust Robinson, has a buy rating on Yahoo! with a price target of $40. Alibaba's revenue increased 66% while net income jumped 110% year over year in the October through December quarter.
He also pointed out the company's margin expansion, which increased to 78% from 71% in the same time period. He suggested Alibaba is a good way for investors to gauge how the Asian consumer is doing economically. He concluded that Yahoo!'s earnings report was a good start to earnings season for technology companies.
Shares of Twitter (TWTR) surged 11% on Tuesday after the company announced that it hired Daniel Graf, the former chief of Maps at Google (GOOG). Kelly said shares of Twitter can continue to go higher.
Adami called Twitter "interesting" at current levels. He said the large trading volume and reversal in the stock price may signal a temporary bottom.
Intel (INTC) beat on bottom-line estimates and reported in-line revenue results.