Stocks to watch

AAP

Stocks to watch on the Australian stock exchange:

ANZ - ANZ BANKING GROUP - down 70 cents, or 2.1 per cent, at $32.25

ANZ shares tumbled as the lender's $3.4 billion half year cash profit fell short of most analysts' expectations, its margins dropped and revenue was flat.

MGC - MG UNIT TRUST - down 14.5 cents, or 14 per cent, at 89 cents

Troubled milk processor Murray Goulburn will axe up to 360 jobs, close three processing facilities, take a $410 million hit from writedowns and restructuring initiatives, and suspend dividend payments as it endeavours to shore up its milk supply.

MOB - MOBILICOM - steady at 20 cents

Israel-based company Mobilicom, which develops and delivers mobile private network solutions, listed on the ASX on Tuesday.

PRY - PRIMARY HEALTH CARE - up 6 cents, or 1.8 per cent, at $3.42

Medical centres and pathology operator Primary Health Care has appointed former clinician Dr Malcolm Parmenter as chief executive to replace Peter Gregg in September.

SYD - SYDNEY AIRPORT - up 2 cents, or 0.3 per cent, at $7.05

The federal government has confirmed it will build Sydney's second airport after the operator of Kingsford Smith airport confirmed it will not take up an option to develop the project.

WOW - WOOLWORTHS - up 32 cents, or 1.2 per cent, at $27.35

The retail giant delivered strong comparable food sales for the third quarter of the financial year in a sign it has lured customers from arch-rival Coles.