Shares of media and entertainment giant Walt Disney closed slightly lower Tuesday despite the company posting quarterly earnings and revenue that topped Wall Street's expectations.Some market watchers have criticized Disney's valuation, as it currently trades at a price-to-earnings ratio of about 25, trader Guy Adami said.
He noted that "there aren't a lot of Disneys out there." Trader Tim Seymour contended that Disney will fare well as more cable companies continue to offer custom packages, because its ESPN network is a valuable asset.
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The stock closed just below $111 per share Tuesday.
Video game maker Electronic Arts posted quarterly profit and sales that beat analysts' expectations Tuesday. The company behind the "Madden" NFL franchise and other popular titles also announced a $1 billion stock buyback.
The stock was up nearly 4 percent in extended trading, at about $61 per share.
EA is "absolutely on fire," said trader Brian Kelly. He contended that investors who already own the stock should hold it until at least November, when EA is slated to release a new "Star Wars" game.
Social media giant Facebook's shares fell more than 1 percent Tuesday. In the last 10 sessions, the stock has dropped nearly 8 percent.
Adami called the selling "way overdone." He said Facebook looked appealing at $77 per share, just below where it closed Tuesday.
Tim Seymour is long T, BAC, DIS, F, GE, GM, GOOGL, INTC, SUNE and TBT. Tim's firm is long BABA, AAPL, MCD, NKE, NOK, SBUX and YHOO.
Brian Kelly is long BTC=, BBRY, SPY puts and U.S. dollar. He is short Australian dollar. He is short yen. He is short yuan. He is short DAX.
Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR and GDX. His firm is long AMZN, AMD, FCX, OXY, RIG, NE, TSE and VALE. His kids own EFG, EFA, EWJ, IJR and SPY.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.