Meanwhile. Microsoft says it’s prepared to walk away from its $43.6 billion bid for Yahoo if the two sides can't agree on a price. Speaking at a technology conference near Milan, Chief Executive Steve Ballmer said Yahoo's better-than-expected first-quarter results, reported Tuesday, have not changed Microsoft's view of Yahoo's value.
I think earnings are going to be a crush and Microsoft could go to $35, speculates Guy Adami.
I’m impressed by what I’m seeing out of Microsoft, adds Pete Najarian. However if it makes a big spike I think you should sell because MSFT doesn’t seem to ever hold its gains.
In terms of the Yahoo deal, I think Microsoft will probably lower the bid in the near term, says Karen Finerman. But in the end I think they bump it up a dollar.
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Trader disclosure: On Apr. 23, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (DIS), (INTC), (MSFT), (YHOO); Najarian Owns (AAPL), (CSCO), (XLF), (YHOO), (BEAV); Najarian Owns (CHK) Calls, (MSFT) Calls, (POT) Calls; Finerman Owns (GS); Finerman's Firm Owns (MO), (MSFT), (PM), (SUN), (TSO), (VLO), (WMT), (YHOO); Finerman's Firm Owns (FNM) Calls; GE Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"