Stocks to watch on the Australian stock exchange on Wednesday:

BBG – BILLABONG INTERNATIONAL LTD – down 26 cents, or 12.8 per cent, at $1.77

Shares in Billabong slumped a further 18 per cent to a fresh record low following its biggest one-day percentage fall on Monday, as analysts warned the surfwear retailer is heading for a wipeout.

CHC – CHARTER HALL GROUP – up five cents at $2.15

Property owner Charter Hall Group has appointed Westfield Australia and New Zealand head of finance Paul Altschwager as chief financial officer.

COH – COCHLEAR LTD – up $9.08, or 16.43 per cent, at $64.33

Hearing implant maker Cochlear says about 1.9 per cent of registered implants globally of its Nucleus C1500 series devices have failed.

ELD – ELDERS LTD –

Elders says profits in the first two months of its fiscal year are on track with the agribusiness’s improvement plans. .

GCL – GLOUCESTER COAL LTD – in trading halt, last traded at $7.03

Shares in Gloucester Coal are in a trading halt following reports it was in talks about an $8 billion merger that would create Australia’s largest independent coal producer.

IAG – INSURANCE AUSTRALIA GROUP LTD – steady at $3.08

Insurance Australia Group’s Malaysian associate plans to become that country’s largest motor insurer through a takeover.

IPL – INCITEC PIVOT LTD – up eight cents at $3.12

Incitec Pivot has started the fiscal year strongly with the explosives and fertiliser maker’s sales volumes and prices above those of a year earlier.

LEI – LEIGHTON HOLDINGS LTD – down five cents at $19.00

Leighton Holdings’ Asian business has been awarded nearly $130 million in new contracts for work in Hong Kong.

MAH – MACMAHON HOLDINGS LTD – up 2.5 cents at 57 cents

Mining focused engineer Macmahon Holdings has upgraded its full year profit forecast by at least $10 million because of additional work.

WBC – WESTPAC BANKING CORPORATION – up two cents at $20.07

Westpac Banking Corporation says it will defend a class action against all four big banks over allegedly unlawful fees.