Netflix is set to report earnings after the bell today and the pressure is on as competition heats up with Amazon announcing today they'll be launching a standalone streaming service. The Halftime Report traders discussed what to do with the stock ahead of the results.

It was a unanimous vote for our experts to not buy Netflix ahead of tonight's earnings. Jim Lebenthal is bearish on the names saying he believes there is more downside to their earnings and he questions the valuation. While he wouldn't buy today, Joe Terranova is a bit more bullish long tern: "I'm going to say you want to buy on a pullback, right now it can be a bit rich."

Where do our experts stand when it comes to Amazon versus Netflix? All four say Amazon is the better bet for your portfolio. Pete Najarian argues "we know more about what Amazon is about, we know about the cloud...when they lift up the veil and show us everything they can do in terms of earnings."

Trader disclosure: On Apirl 18th the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Halftime Report" were owned by the "Halftime Report" traders:

Josh Brown: Long AAPL, BABA, CORE, DE, DNKN,GE, JMBA, LNKD, SAM, SHAK, SPWR, TWTR, XLE

Jim Lebenthal: Long AAPL, BA, C, CSCO, DCO, DIS EEQ, GAIA, GM, INTC, JCP, KMI, KMY, MPC, OA, ORBC, PFE, QCOM, QRVO, SPLS, TIF,TRN, TWX, WGO

Pete Najarian: Long AAPL, BAC, BMY, CSCO, DIS, DSCA, GE, KMI, KMI.A, KO, MRK, PEP, PFE, SAVE, ZIOP Long Calls: AAL, AGN, AMJ,CL, COP, EBAY, ECA, EGO, ENR,ETE, HAIN, KBH, KO, LLY, MET, MSFT, NLNK, POT,SBUX, SLV, SPG, TCK, UAL, XOM, YHOO Long Puts: MS, PBR, VLO

Joe Terranova: Long VRTS