NEW YORK (TheStreet) --The S&P 500 closed at all-time highs as traders and investors cheered the short-term debt deal in Washington.
Steve Grasso of Stuart Frankel said he remains long Google (GOOG) but did not like the technicals heading into its earnings -- which it beat on the top and bottom lines. He is looking to pare back some of his position.
Karen Finerman, president of Metropolitan Asset Management, said it was good to finally see the company beat on revenue, but was disappointed by the falling cost-per-click (CPC).
Josh Brown, a financial adviser at Ritholtz Wealth Management, said Google's cloud business will be much bigger going forward and that while CPCs have been falling, the volume has been increasing and offsetting the negativity.
Mark Mahaney of RBC Capital Markets was a guest on the show and said his price target for Google is $1,020. Along with international growth he thinks the stock should appreciate on valuation expansion. Other stocks he likes include: Amazon (AMZN), Priceline.com (PCLN) and Facebook (FB).
Jon Najarian, co-founder of OptionMonster and TradeMonster, noted that Facebook made another new high on Thursday and big out-of-the-money call buyers continue to come into the stock, suggesting that it still has a lot of upside potential.
Turning to the overall economy, Finerman said consumers have been waiting for the drama in Washington to blow over before making any large purchases, and that could fuel a very strong fourth quarter.
Brown said that because so many hedge funds are severely lagging the broader markets, they will have to chase stocks higher into year's end. He added that the bearish points are quickly starting to fade.
Najarian said the Federal Reserve may refrain from tapering until June of next year. Because of this, he likes Toll Brothers (TOL), D.R. Horton (DHI) and Trulia (TRLA).