Power Play: Opportunities in 2 big-caps stocks

Bottles of Pepsi-Cola on sale in San Francisco.
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Bottles of Pepsi-Cola on sale in San Francisco.

The Dow, Nasdaq and S&P 500 are now negative for the year after dropping about 5 percent in the past two sessions. Two veteran strategists tell CNBC's "Power Lunch" on Monday the market sell-off has created some opportunities for investors.

Kate Warne, investment strategist at Edward Jones, is adding stocks that are well-positioned and attractively valued, with the potential for rising dividends over time. One of her top picks is diversified pharmaceutical company Merck. "New immune-oncology drug Keytrude should help drive long-term growth as it receives approvals for additional cancers," Warne said.

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Bill Stone, chief investment strategist at PNC Asset Management, believes now is not the time to sell stocks. "While the short-term behavior of stocks is unknowable and one should expect further volatility, a wholesale liquidation of stocks is unwarranted in our view," Stone said.

He is overweight consumer names like PepsiCo.

Merck and Pepsico are lower during trading.