Amgen's stock is up 18 percent in the last 3 months, and the company reported earnings that broadly beat expectations. Meanwhile, Amazon reported a beat on earnings, but was weighed by a miss on revenue and weak guidance.
Trader Pete Najarian said he likes Amgen because the biotech company trades at a relatively low stock price of $164 with a great yield.
Tim Seymour said the political environment is favorable for Amgen, with corporate tax reform expected to come from the Trump administration.
On Amazon, trader Karen Finerman said she's skeptical about the valuation of the logistics part of the company. She added that the stock would be attractive only if the company's web services segment or cloud-computing unit sees faster growth— and the segment's profit margins do not start to shrink.
Najarian said he sees the stock's pullback as a potential buying opportunity.