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Stocks to Watch: January 19, 2017

Check out which companies are making headlines before the bell:

Netflix — The video streaming service reported quarterly profit of 15 cents per share, 2 cents a share above estimates. Revenue was slightly above forecasts, as well. Netflix also gave strong current-quarter guidance and better-than-expected subscription additions.

Canadian Pacific Railway — CEO Hunter Harrison stepped down effective immediately, rather than following a prior plan to depart in July. President and Chief Operating Officer Keith Creel will take over effective January 31. The Wall Street Journal reports Harrison is partnering with activist investor Paul Hilal to target rival rail operator CSX, in an effort to put Harrison in a senior management at CSX.

Coca-Cola — Wells Fargo downgraded the stock to "market perform" from "outperform," pointing to both structural and macroeconomic headwinds among other factors.

Exxon Mobil — UBS downgraded the oil giant's stock to "sell" from "neutral," saying Exxon has sub-par metrics and an expensive valuation.

BHP Billiton — The miner and partner Vale agreed with Brazilian prosecutors on a June 30 deadline to come to settlement deals involving billions in compensation claims. The case involves the 2015 disaster at a jointly owned iron mine.

Tesla — Panasonic wants to expand its partnership with the automaker beyond batteries. Panasonic CEO Kazuhiro Tsuga told Reuters that he wants to two companies to partner on self-driving technology as well. Separately, Morgan Stanley upgraded Tesla to "overweight" from "equal weight," pointing to an expanding electric vehicle market and a surprisingly supportive political environment, among other factors.

GlaxoSmithKline — Glaxo announced the departure of global head of pharmaceuticals Abbas Hussain. The drugmaker hired executive Luke Miels from rival AstraZeneca to replace Hussain, who had been seen as a potential future CEO.

Lockheed Martin — The defense contractor is near a deal with the Pentagon on the F-35 aircraft that would bring the price below $100 million for the first time. That's according to Reuters, quoting people familiar with the talks.

Apple — Apple is running into some resistance from Indian government officials, as it asks for concessions in return for agreeing to assemble iPhones in that country.

Mondelez International — The snacks maker is selling the Vegemite brand, as well as other Australian and New Zealand grocery product brands, to Australian dairy company Bega Cheese for about $345 million.

Kinder Morgan — Kinder Morgan reported quarterly profit of 18 cents per share, matching estimates, but the pipeline operator's revenue was below forecasts on falling oil and natural gas transportation volumes. Kinder Morgan's quarterly revenue posted its ninth straight quarterly decline, as well.

Costco — The warehouse retailer was added to the "Conviction Buy" list at Goldman Sachs, which removed Restoration Hardware from that list. Goldman said Costco is poised for earnings acceleration as it continues to enjoy momentum from last year's credit card deal switching to Visa from American Express.

KeyCorp — The bank earned an adjusted 31 cents per share for the fourth quarter, beating forecasts by 2 cents a share. Revenue also beat estimates. KeyCorp said it's seeing continuing momentum in its core businesses and has also successfully integrated its acquisition of First Niagara.

Check Point Software — The network security company reported adjusted quarterly profit of $1.46 per share, well above estimates of $1.25 a share. Revenue also beat forecasts. Check Point saw particularly strong growth in mobile security products as well as an increase in customers.

HP Inc. — UBS upgraded the personal computer and printer maker to "buy" from "neutral," saying the company will benefit from having reduced supply and investing in growth opportunities.

Nike, Under Armour, Lululemon — Nike and Lululemon are rated "underperform" in a new report on the athletic apparel sector by CLSA, which also calls Under Armour a "buy." CLSA said it is concerned about a deceleration of Nike's North American sales, and that good news involving Lululemon appears to be already priced into the stock. It thinks Under Armour has opportunities for significant sales acceleration.