NEW YORK (TheStreet) -- The S&P 500 closed at session lows. On CNBC's "Fast Money" TV show, the trading panel discussed the new results from the stress tests, including whether banks will be permitted to return cash to shareholders. 

Citigroup (C) - Get Report was denied the ability to return cash as a result of the tests for the second time in three years. Tim Seymour, managing partner of Triogem Asset Management, said the bank has ongoing issues in Mexico but said the valuation is too compelling to not like the stock. 

He was also a buyer of Bank of America (BAC) - Get Report, which increased its quarterly dividend to 5 cents per share, from 1 cent. It also initiated at $4 billion share buyback plan. However, the bank agreed to pay $9.5 billion in settlements due to bad mortgages during the financial crisis. 

Karen Finerman, president of Metropolitan Capital Advisors, said Citigroup will "get it together." She is long the bank and likes its valuation. 

Guy Adami, managing director of, said investors could own shares of Citigroup with a stop-loss at $46. He said it's time to consider taking profits in U.S. Bancorp (USB) - Get Report

Steve Grasso, director of institutional sales at Stuart Frankel, said Bank of America is a buy based on its capital distribution announcement. He admitted the stock could get pulled a little lower due to weakness in the rest of the sector, but suggested shares could climb to the low-$20 range over time. 

Dick Bove, vice president and bank analyst at Rafferty Capital, said the second round of stress test results are more important than the initial results from last week. He said Morgan Stanley (MS) - Get Report and Bank of America are his top two picks.

Overall, he said, today's large banks are very well capitalized and should see a rise in loan volume and margins; margins will be helped by higher interest rates. 

Twitter (TWTR) - Get Report fell 7%. Adami admitted he didn't think the stock would get this low but suggested investors could start a long position at current levels. 

Seymour said the stock is oversold, based on a technical indicator known as the Relative Strength Index (RSI). Grasso agreed that the stock could bounce, aided by a 37% short interest. 

Facebook (FB) - Get Report also fell 7% after the company announced its $2 billion acquisition of Oculus VR. Grasso said investors thought the company's acquisition of Instagram was a bad move a few years ago but it has turned out to be an amazing asset. He said it will take some time to find out but suggested that the potential for Oculus could be huge.

Finerman asked, "Is he a visionary or getting distracted?" referring to Facebook CEO Mark Zuckerberg. For now, she said, he deserves the benefit of the doubt. 

Seymour said investors will likely start buying shares of FB after its sharp decline over the past few weeks. 

Nissan (NSANY) announced it would recall 1.05 million vehicles. Seymour said not to sell the stock on this news. He was also a buyer of General Motors (GM) - Get Report at current levels based on valuation and an improving auto market. 

Grasso agreed that GM had a low valuation. however, he said the stock has not traded well and looks like it could head lower. Finerman is long GM based on valuation. 

Seymour said the iShares MSCI Emerging Markets ETF (EEM) - Get Report is running into resistance near $40. He advised investors to sell at current levels and wait for a pullback before buying again. 

Nili Gilbert, co-founder and portfolio manager of Matarin Capital, said many investors are lured in by companies with high growth prospects, only to get financially hurt. She said her firm seeks out companies with stable and consistent growth. 

For example, DirecTV (DTV) has grown revenue roughly 10% each year over the last five years. On a sales-per-share basis, the company has growth comparable to Netflix (NFLX) - Get Report. However, DTV has a much, much lower valuation based on earnings, along with high free-cash flow and a favorable buyback, she concluded. 

Seymour said he likes DTV at current levels. 

Regarding wearable technology, Finerman said Apple (AAPL) - Get Report is likely to have some sort of involvement in the space. There has been no formal announcement of such products from the company. 

To play the wearable technology space, Seymour prefers Nike (NKE) - Get Report, which has its Fuel Band product. He was a buyer near $70. 

Grasso suggested investors buy what's inside wearable devices -- the chips, which are made by Intel (INTC) - Get Report and Qualcomm (QCOM) - Get Report. He is long Qualcomm. 

Adami pointed out that Garmin (GRMN) - Get Report made new seven-year highs on Wednesday, and the stock is his pick for wearable technology. 

King Digital Entertainment (KING) fell over 15% in its public debut. Bob Pisani, CNBC's reporter on the floor of the New York Stock Exchange, said the stock's IPO flop could be a sign of things to come, which will be especially apparent after three more companies -- Applied Genetic Technologies (AGTC), Square 1 Financial (SQBK), and TriNet (TNET) -- price on Wednesday night. If those stocks perform poorly as well, it could be a sign of over-saturation in the IPO market, especially with five more stocks pricing on Thursday. He added there is an enormous buildup of Chinese companies waiting to go public. 

Finerman is long Live Nation Entertainment (LYV) - Get Report and short SFX Entertainment (SFXE)

PVH Corp. (PVH) - Get Report jumped 4% and was the first stock on the show's "Pops & Drops" segment. Finerman said the slightly better-than-expected earnings result and guidance relieved investors, allowing shares to go higher. 

The Market Vectors Gold Miners ETF (GDX) - Get Report fell 4%. Seymour said investors should get out of the fund and wait for a better entry. 

AOL (AOL) climbed 4%. Grasso said the stock looks likely to go higher. 

Panera Bread (PNRA) dropped 8%. Adami said the stock has to hold $165. 

For their final trades, Grasso was a buyer of AOL as long as it holds $43, Finerman and Seymour were buyers of Citigroup and Adami said to buy the iShares 20+ Year Treasury Bond ETF (TLT) - Get Report.

-- Written by Bret Kenwell in Petoskey, Mich.

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