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NEW YORK (TheStreet) -- Facebook (FB) - Get Meta Platforms Inc. Class A Report reported great earnings for the third quarter but its shares fell over 9% in Tuesday's after-hours trading session after management told investors that non-GAAP expenses are expected to rise 50% to 70% in 2015. 

"It was a great quarter," Guy Adami, managing director of stockmonster.com, said on CNBC's "Fast Money." But following the big decline investors have to wait for the stock to stabilize before getting long. 

Mobile ads and advertising revenue were very strong, according to Tim Seymour, managing partner of Triogem Asset Management. The selloff makes sense given that nobody expected expenses to rise so much. 

Karen Finerman, president of Metropolitan Capital Advisors, pointed out the poor price action from Facebook could hurt shares of Twitter (TWTR) - Get Twitter, Inc. Report  Wednesday. Late Tuesday Twitter shares were 2% lower. 

"I would rather buy Twitter instead of Facebook," said Brian Kelly, founder of Brian Kelly Capital. He suggested taking profits in Facebook to buy Twitter.

"It was a very solid quarter," said Bob Peck, Internet analyst at SunTrust Robinson Humphrey, who has a buy rating on Facebook with a $90 price target. But on the spending, it will depend on how much revenue grows and if that revenue growth will offset the drop in earnings per share as a result of higher costs. 

Also reporting was Panera Bread Company (PNRA) , which beat on EPS estimates and reported in-line revenue results. 

"At 23 times forward earnings, the stock seems expensive," Adami reasoned. Margins were also lower than expected and the stock seems poised to head lower. Fireman added that guidance was disappointing given that gasoline prices are down so much. 

Seymour found Panera somewhat cheap, based on valuation, compared to Chipotle Mexican Grill (CMG) - Get Chipotle Mexican Grill, Inc. Report , Noodles (NDLS) - Get Noodles & Co. Class A Report and El Pollo Loco (LOCO) - Get El Pollo Loco Holdings Inc Report  . 

Adami said U.S. Steel (X) - Get United States Steel Corporation Report can push back up toward $50 per share after its strong report, while a pullback in Gilead Sciences (GILD) - Get Gilead Sciences, Inc. Report should be viewed as a buying opportunity. 

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Anadarko Petroleum (APC) - Get Anadarko Petroleum Corporation Report missed EPS estimates but beat on revenue expectations. Kelly said shares of APC will move higher when oil begins to move higher.

Investors should hold off on buying shares of Electronic Arts (EA) - Get Electronic Arts Inc. Report  despite the company's top- and bottom-line earnings beat. The valuation is too high, Seymour said. 

In technology, Adami recommended taking some profits in Yahoo! (YHOO) after the big move higher. Seymour is staying long Alibaba (BABA) - Get Alibaba Group Holding Ltd. Report and Fireman said she is likely going to take some profits in Apple (AAPL) - Get Apple Inc. Report  because her short $105 call options are likely to expire in the money. 

Paul Hickey, co-founder of Bespoke Investment Group, said lower oil prices are good for the stock market. Lower oil prices are only bad for energy companies because consumer costs and corporate input costs fall. Lower prices are good for the economy and, 80% of the time, the stock market trades higher when oil is in a bear market, he concluded.

One company that benefits from oil volumes and not oil prices is Navios Maritime Acquisition (NNA) - Get Navios Maritime Acquisition Corporation Report , Finerman said. She added that retail stocks should benefit from lower oil prices. 

Instead of companies, Seymour said four countries will greatly benefit from lower oil costs: Japan, Turkey, Indonesia and Korea. 

For their final traders, Seymour is buying Freeport-McMoRan (FCX) - Get Freeport-McMoRan, Inc. Report and Finerman said to buy Navios Maritime Acquisition. Adami is a buyer of Hartford Financial Group (HIG) - Get Hartford Financial Services Group, Inc. Report and Kelly sell to the iShares High Yield Corporate Bond ETF (HYG) - Get iShares iBoxx $ High Yield Corporate Bond ETF Report .


-- Written by Bret Kenwell

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Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter.