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Stocks to Watch: July 19, 2016

Check out which companies are making headlines before the bell:

Goldman Sachs — The investment bank scored a 72 cents a share beat, with quarterly profit of $3.72 per share. Revenue also beat forecasts. CEO Lloyd Blankfein said the firm did well across all of its businesses, despite the uncertainty created by Britain's vote to leave the European Union.

UnitedHealth — The health insurer earned an adjusted $1.96 per share for the second quarter, seven cents a share above estimates. Revenue also beat forecasts. The company narrowed its full-year adjusted earnings per share forecast to $7.80 to $7.90, compared to the current consensus estimate of $7.89 a share. UnitedHealth was helped by customer additions in its pharmacy benefit management business, as well as other units.

Johnson & Johnson — The medical and consumer products maker beat estimates by six cents a share, with quarterly profit of $1.74 per share. Revenue was also above estimates, and J&J raised its full-year forecast, as well. The company's results were helped by strong sales in the U.S. market, helping to overcome currency fluctuations and other negative factors.

Netflix — Shares are under pressure after the company reported a slump in subscriber growth following a May price increase. The video streaming service did post quarterly profit of nine cents per share, seven cents a share above estimates. Revenue matched forecasts, but investors appear solely focused on the subscriber growth slowdown.

Philip Morris International — The tobacco producer fell five cents a share shy of estimates, with quarterly profit of $1.15 per share. Revenue also missed estimates. The company said it was impacted by shipment declines in certain markets, but added that it expects growth to be skewed toward the second half of the year and the fourth quarter in particular.

Chipotle Mexican Grill — The restaurant chain's stock was upgraded to "outperform" at CLSA, which sees better customer traffic, as well as future benefits from its summer loyalty program.

IBM — IBM reported adjusted quarterly profit of $2.95 per share, six cents a share above estimates. Revenue was slightly above forecasts. IBM did post its 17th straight quarter of declining revenue, but the company's strategy shift toward high-growth areas, such as cloud and mobile computing, is beginning to show in the top and bottom lines.

Yahoo — Yahoo earned an adjusted nine cents per share for its latest quarter, missing estimates by a penny a share. Revenue exceeded forecasts. The earnings report is likely to be overshadowed by the conclusion of the bidding process for Yahoo's internet assets, with winning bidders expected to be announced within days.

Baidu — The China-based online service is being investigated over gambling ads, according to the Financial Times. The paper said stealth banner ads for online gambling are showing up on Baidu only at night.

Volkswagen — The automaker will be the target of a new lawsuits by three states — New York, Maryland, and Massachusetts — with details to be unveiled today. The lawsuits involve accusations of violating environmental laws and allegedly defrauding regulators.

Novartis — Novartis said full-year profit may decline due to increased marketing spending by the drugmaker for its new heart failure drug Entresto. Novartis did report better-than-expected earnings for its latest quarter, but initial sales for Entresto were lower than analysts had been expecting.

Monsanto — Monsanto is negotiating terms of a confidentiality pact with Germany's Bayer, according to Reuters, as the drugmaker seeks to convince Monsanto to accept its $125 per share takeover offer.

Viacom — Chief Executive Philippe Dauman and Chief Operating Officer Thomas Dooley have sent letters reserving their right to resign "for good reason," in a move that protects their potential severance pay. Regulatory filings show the two are reserving their right to resign if a judge approves founder Sumner Redstone's move to remove five directors, including Dauman, from Viacom's board.

Ericsson — Ericsson announced more cost-cutting moves, following weaker-than-expected second-quarter profit. The telecom equipment maker, which previously had announced moves to increase efficiency, said its latest moves were aimed at doubling its savings in operating expenses. — Amazon is in talks to finance Woody Allen's next movie, according to the Hollywood Reporter. The movie is said to have an expected budget of $25 million.

(Read More: See CNBC's Market Insider Blog)

—By CNBC's Peter Schacknow

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