Stocks to watch on the Australian stock exchange early on Thursday:

BHP – BHP BILLITON LTD – up 30 cents at $37.00

BHP Billiton expects to beat its full-year iron ore targets after first-half production rose by 23 per cent.

CWP – CEDAR WOODS PROPERTIES LTD – down 14 cents at $3.36

Property developer Cedar Woods says it expects a boost in sales in 2012 after two consecutive rate cuts.

DJS – DAVID JONES LTD – up four cents at $2.36

David Jones says it expects to generate more than $40 million in sales per year from a new department store in Brisbane’s southwest.

LYC – LYNAS CORPORATION LTD – up 4.5 cents at $1.06

Rare earths miner Lynas Corporation has significantly increased the estimated resources at its major Mount Weld project in Western Australia.

ORI – ORICA LTD – up 61 cents at $25.37

NSW Environment Minister Robyn Parker says she is deeply concerned by yet another emissions breach at one of Orica’s plants and wants answers.

OZL – OZ MINERALS LTD – up 24 cents at $10.93

OZ Minerals lifted gold output in the final quarter of 2011 while copper production fell but it still achieved full-year production in line with guidance.

SFH – SPECIALITY FASHION GROUP LTD – down four cents at 43 cents

Retailer Specialty Fashion Group says its Christmas performance was disappointing, with sales lower than the previous year.

WBC – WESTPAC BANKING CORPORATION – down nine cents at $20.57

Westpac Banking Corporation has put the future of 28 IT management roles in doubt, by commencing a review of their roles in BT Financial Group (BT) and Westpac Institutional Bank (WIB) as part of a group-wide restructure.

WES – WESFARMERS LTD – down seven cents at $30.48

Wesfarmers expects a 74 per cent drop in first-half earnings from its insurance division because of a high number of natural disasters.