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

BBG – BILLABONG INTERNATIONAL LTD – in trading halt, last traded at 45.5 cents

Shares in troubled retailer Billabong are in a trading halt ahead of an update about its potential takeover.

CCL – COCA-COLA AMATIL LTD – down $1.50, or 10.38 per cent, at $12.95

Beverage company Coca-Cola Amatil (CCA) says its earnings have been hit by heavy discounting on soft drinks.

TLS – TELSTRA CORPORATION LTD – down 2.00 cents, or 0.39 per cent, at $5.04

Telstra will spend $1.3 billion to boost its mobile and data capabilities.