STOCKS TO WATCH: AOL Latin America, Mediacom, Oplink and S1

AOL Latin America posted a smaller-than-expected loss in its first quarter, losing $98.1 million, or 36 cents a share, on sales of $4.6 million.

Analysts were expecting a loss of 37 cents a share.

The stock closed up 13 cents to $6.38 ahead of the earnings report.

In the quarter, it added 191,000 new subscribers.

However, advertising and commerce revenues in the first quarter dipped to $1.9 million from $2 million in the fourth quarter.

Mediacom will receive some attention after it announced after the bell Tuesday that it will shell out $34 million to buy cable television systems serving 14,000 customers in Alabama from a subsidiary of AT&T Broadband.

Its shares closed unchanged at $17.75 ahead of the news.

Company officials said these new systems will bring its total subscriber base to more than 1.2 million homes in 22 states.

AT&T (NYSE: T) shares closed up 50 cents to $22.44.

In its latest quarter, Mediacom posted a loss of $23 million, or 26 cents a share, on sales of $84.5 million.

Oplink will be active after it beat the Street in its first quarter as a public company, posting a loss of $617,000, or breakeven on a per share basis, on sales of $32.3 million.

First Call Corp. consensus pegged the maker of fiber-optic components for a loss of 3 cents a share in its first fiscal quarter.

Its shares shaved off $1.81 to $25.69 ahead of the earnings report.

The $32.3 million in sales marks a 628 percent jump from the year-ago quarter when it lost $55,000 on sales of $4.4 million and a 76 percent improvement from the $18.4 million it recorded in the prior quarter.

All three analysts following the stock rate it a "buy."

It could be a rough day for S1 Wednesday after it posted a wider-than-expected net loss in its third quarter, losing $136.1 million, or $2.46 a share, on sales of $64.4 million.

First Call Corp. consensus expected it to lose $2.39 a share in the quarter.

Its shares finished off 19 cents to $10.69.

The $64.4 million in sales marks a 160 percent improvement from the year-ago quarter when it lost $2.7 million, or 10 cents a share, on sales of $24.8 million.

Last week, S1 tipped off investors that its third-quarter results might not be up to par when it announced it would lay off 7 percent of its workforce in an effort to "streamline" its operations.