Stocks to watch on the Australian stock exchange on Tuesday, Aug 5:

AGO – ATLAS IRON – up six cents, or 9.2 per cent, at 71 cents

Atlas Iron boss Ken Brinsden has hosed down takeover speculation of his company, but says its shares are good value.

ASL – AUSDRILL – steady at $1.065

Mining contractor Ausdrill has announced the re-appointment of chief executive Ron Sayers on the same day that his tax conspiracy trial starts.

CWN – CROWN – down 18 cents, or 1.1 per cent, at $15.82

Gambling mogul James Packer is set to make another attempt at cracking the big casino market in the United States.

HVN – HARVEY NORMAN – down one cent, or 0.3 per cent, at $3.05

JBH – JB HI-FI – up 15 cents, or 0.8 per cent, at $19.75

MYR – MYER – up three cents, or 1.3 per cent, $2.38

Retail spending is picking up as Australian consumers shake off the federal budget blues.

PXS – PHARMAXIS – up 0.2 cents, or 3.3 per cent, at 5.8 cents

Drug developer Pharmaxis is suing one of its financiers in the United States for trying to withdraw funding for a cystic fibrosis drug.

ROC – ROC OIL – up 4.5 cents, or 7.1 per cent, at 67.5 cents

HZN – HORIZON Oil – down 2.5 cents, or 6.8 per cent, at 34.5 cents

Australia’s Roc Oil has backed a new $474 million takeover offer from Chinese heavyweight Fosun Group, ending its proposed merger with Horizon Oil.

TWE – TREASURY WINE ESTATES – up 20 cents, or four per cent, at $5.15

US private equity firm KKR has upped its bid for Treasury Wine Estates, but the battle for the owner of Penfolds wines may be just beginning.