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Stocks making moves or news on the ASX at the close on Wednesday, August 22:

CAR – Carsales.com – up $1.60, or 10.9 per cent, to $16.25

Shares in Carsales.com have surged to a record high after the online auto classified group posted a leap in full-year profit.

TPM – TPG Telecom – up $1.36, or 21.6 per cent, to $7.65

TPG shares reached their highest level since 2016 after the telco confirmed it is in talks with Vodafone Australia regarding a potential merger of the two competing companies.

A2M – A2 Milk Company – up 51 cents, or 5.1 per cent, to $10.60

Shares in A2 rose after the New Zealand-based company reported it had more than doubled its full-year profit.

NEC – Nine Entertainment Co – down 3 cents, or 1.2 per cent, to $2.39

QAN – Qantas Airways – down 11 cents, or 1.6 per cent, to $6.72

Nine and Qantas are reporting results on Thursday, August 23.