The expectations for Cisco have been high and there weren't any unexpected surprises, Dan Nathan, co-founder and editor of riskreversal.com, said on CNBC's "Fast Money."
Because John Chambers is stepping down as CEO, the company seems unlikely to make a large acquisition in the near future, such as one in the cyber security industry. Nathan believes investors will buy the stock on a pullback.
Or does having a new CEO coming in make it more likely a big acquisition could be made? Tim Seymour, managing partner of Triogem Asset Management, wondered. He said Cisco's its cyber security business is growing quickly and likes Cisco based on valuation, as does Karen Finerman, the president of Metropolitan Capital Advisors. She expects a "seamless" transition with the new CEO.
Brian Kelly, founder of Brian Kelly Capital, however, is concerned global economies are beginning to slow, something that negatively impacted Cisco in prior years. He acknowledged the company's sizable share buyback, but is remaining cautious on the stock.
Shares of Shake Shack (SHAK) rose in late trading after the company's top- and bottom-line earnings beat and double-digit comparable-store sales results. Revenue were strong, but it's clear that management is trying to remain bullish while also trying to keep investors from getting too excited, Nathan said. He's a buyer on a deep correction.