Stocks to watch at noon on Friday

Stocks to watch on the Australian stock exchange at noon on Friday:

CAB - CABCHARGE - up three cents, or 0.6 per cent, at $5.00

Payments system operator Cabcharge is looking to expand beyond the taxi system in an increasingly cashless society after a 13.4 per cent slump in its half year net profit to $31.2 million.

FXJ - FAIRFAX MEDIA - up 2.5 cents, or 2.6 per cent, at 97.5 cents

MRN - MACQUARIE RADIO - steady at 96.5 cents

The merger of Macquarie Radio Network and Fairfax Media's radio business is one step closer after the competition watchdog gave it the green light.

GNC - GRAINCORP - down 35 cents, or 3.5 per cent, at $9.72

GrainCorp has warned its full year year profit could dive more than 50 per cent due to smaller crops and weaker exports.

HVN - HARVEY NORMAN - up eight cents, or 1.8 per cent, at $4.43

Retailer Harvey Norman is forecasting sales growth in its homemaker products thanks to improved consumer confidence.

NCM - NEWCREST MINING - up 49 cents, or 3.5 per cent, at $14.42

EVN - EVOLUTION MINING - down 8.75 cents, or 9.4 per cent, at 84.75 cents

Australia's biggest gold miner Newcrest Mining has sold more than half of its one-third stake in Evolution Mining for about $106 million.

QAN - QANTAS AIRWAYS - up 10 cents, or 3.5 per cent, at $2.95

Qantas has received a more favourable outlook from credit ratings agency Moody's after the airline delivered its best half year result in four years.

PPX - PAPERLINX - down 0.3 cents, or 16.7 per cent, at 1.5 cents

A week after its chief executive was replaced, packaging group PaperlinX has announced an even deeper half year loss stemming from problems in Europe.

RIO - RIO TINTO - up 60 cents, or 0.9 per cent, at $64.30

Rio Tinto will merge its copper and coal divisions into one business as part of a new range of cost-cutting measures announced by the mining giant.

TWE - TREASURY WINE ESTATES - up two cents, or 0.4 per cent, at $5.45

The maker of Penfolds wine has taken a large hit to half year profit despite stronger sales, as it makes major changes to its business.

WOW - WOOLWORTHS - down $3.10, or 9.1 per cent, at $30.85

A slide in the supermarket giant's half year profit led to a downgrade of its full year earnings forecast, as it announced plans to step up investment after falling further behind arch rival Coles.

Market Data

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