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NEW YORK (TheStreet) -- Oil prices climbed another 0.28% as fears over Iraq continue to weigh on investors' minds. The S&P 500 climbed 0.31%.  

On CNBC's "Fast Money" TV show, the trading panel took a look at Priceline.com's (PCLN) acquisition of OpenTable (OPEN) for $2.6 billion. 

Guy Adami, managing director of stockmonster.com, said shares of Priceline look "interesting" on the long side following the recent selloff. He added that the stock has an attractive valuation, while names like OpenTable are hard to sell short due to M&A potential. 

Tim Seymour, managing partner of Triogem Asset Management, said he likes Priceline's business model, global operations and mobile platform. He even called the valuation attractive. However, he does not like the recent price action and suggested that investors wait for the stock to "settle down." He added that the acquisition of OPEN was overpriced, but a good addition to Priceline's business model. 

Brian Kelly, founder of Brian Kelly Capital, said Priceline will be able to help OpenTable's global expansion, where the latter receives over 80% of its revenue from the United States. He added that Yelp (YELP) - Get Yelp Inc Report may become the next takeover target in the industry. 

Steve Grasso, director of institutional sales at Stuart Frankel, took a look at Groupon (GRPN) - Get Groupon, Inc. Report. Despite shares falling 48% year-to-date and the business having seemingly low barriers to entry, the stock could "spike dramatically" on any good news. 

Daniel Ives, managing director at FBR Capital Markets, agreed that Yelp may very well be the next takeover target, possibly by Yahoo! (YHOO) , Google (GOOGL) - Get Alphabet Inc. Class A Report, or Microsoft (MSFT) - Get Microsoft Corporation Report. Microsoft interested him the most. He reasoned that it would help Microsoft in all three areas that it is trying to improve in: Search, cloud and mobile. Turning to the cloud space, he reasoned that Salesforce.com (CRM) - Get salesforce.com, inc. Report may acquire Demandware (DWRE)

Adami said investors can consider getting long shares of Demandware following its recent selloff. 

Kelly said it would be a bad idea for Microsoft to acquire Yelp. 

Adami said investors could likely step in to buy shares of Cree (CREE) - Get Cree, Inc. Report near $50 after the recent selloff. And while he admitted the business is becoming commoditized, he called Cree the "premiere" company in the industry, and said it could also be an M&A target. 

Shares of International Game Technology (IGT) - Get International Game Technology PLC Report have "room to go higher," according to Grasso. He said the stock could climb as high as $20, despite rallying over 30% since June 9. 

Seymour said Express (EXPR) - Get Express, Inc. Report is likely to find support near current levels following the 10% stake from Sycamore Partners. He added that other retailers may start becoming acquisition candidates, due to the low valuations.  

Oil prices continue moving higher due to increased tensions in Iraq. Grasso said the longer the U.S. takes to intervene, the more likely that Iran is to do so. If that happens things could start to get ugly, and the situation may turn into a "big, long, stretched-out mess." 

Kelly agreed the length of the situation in Iraq is the key. He said the longer oil prices remain elevated, the more pain it could inflict on countries such as Japan and India, two big oil consumers. He is a buyer of Golar LNG (GLNG) - Get Golar LNG Limited Report and a seller of the WisdomTree India Earnings ETF (EPI) - Get WisdomTree India Earnings Fund Report

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Seymour said oil prices look likely to continue higher, but not just because of tensions in Iraq. He reasoned that all commodity prices should move higher due to economic improvement. He suggested that Brent crude oil could climb over $125 per barrel by the second half of 2014. 

Grasso said Intel's (INTC) - Get Intel Corporation Report boost to second-quarter revenue guidance based on higher PC demand should allow for "pretty easy sailing going forward."

Kelly said Microsoft is the "obvious" buy following the announcement from INTC. Above $42, it looks like a "great trade" on the long side. 

As long as Citigroup (C) - Get Citigroup Inc. Report can hold $46.50, investors should stay long, Adami reasoned. He added that shares of U.S. Bancorp (USB) - Get U.S. Bancorp Report have been doing well lately. 

MannKind (MNKD) - Get MannKind Corporation Report climbed 8% and was the first stock on the show's "Pops & Drops" segment. Grasso said he is not a buyer of the stock, which is up 102% this year. 

VimpelCom (VIP) fell 4%. Seymour called the stock a "no touch," but added that he sees a lot of value in the stock. 

Trulia (TRLA) climbed 3%. Kelly said the housing sector stocks still appear to be "troubled," despite Trulia's positive users results of 51 million unique visitors in May. 

Alcoa (AA) - Get Alcoa Corporation Report jumped 4%. Adami said there appears to be "more upside ahead."

Grasso said investors need to wait for Tesla Motors (TSLA) - Get Tesla Inc Report to pullback to $200, before considering buying the stock. It trades mostly on technicals, he added.

For their final trades, Seymour is taking profits in Twitter (TWTR) - Get Twitter, Inc. Report and Kelly is a seller of Boeing (BA) - Get Boeing Company Report. Grasso is a buyer of Apple (AAPL) - Get Apple Inc. Report and Adami said to buy Isis Pharmaceuticals (ISIS)

-- 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.