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STOCKS TO WATCH: Asyst Technologies, CMGI and Comverse Technology

Expect the following technology stocks to be among Wednesday's most actively traded issues: Asyst Technologies, CMGI and Comverse Technology.

  • Asyst Technologies (Nasdaq: ASYT)

    The semiconductor fab automation company will be active after it warned that its second-quarter sales will fall 15 percent from the prior quarter.

    It also announced it would lay off about 17 percent of its work force in an effort to cut costs amid the ongoing economic slowdown.

    "Weak global economic conditions are affecting business across the board in our customers' fabs and they are in turn reducing their capital spending," said CEO Mihir Parikh in a prepared release.

    Its shares closed up 44 cents to $13 ahead of the warning before falling to $12.22 in after-hours trading.

  • CMGI (Nasdaq: CMGI)

    The Internet incubator will be on the move Wednesday after it posted a loss—excluding charges—of $216.6 million, or 66 cents a share, on sales of $342.7 million.

    It also lowered sales estimates for the next two quarters.

    CMGI, which holds a majority interest in both Engage Technologies (Nasdaq: ENGA) and NaviSite as well as several privately-held online companies including uBid and Alta Vista, now expects to record third-quarter sales of between $280 million and $290, down 15 percent from the second quarter and well below the $366 million currently predicted by First Call Corp.

    It now sees fourth-quarter sales improving only between 3 percent and 5 percent from the scaled back third-quarter estimates, meaning it will fall dramatically short of the $387.5 million target established earlier this year.

    CMGI shares closed up 6 cents to $3.91 ahead of the earnings report before falling to $3.76 in after-hours trading.

  • Comverse Technology (Nasdaq: CMVT)

    Comverse will be on the rise after easily topping analysts' estimates in its third quarter and expects to at least meet estimates in its fourth quarter.

    The Israeli telecommunications software maker pocketed $76.9 million, or 41 cents a share, on sales of $346.6 million.

    First Call Corp. consensus expected it to earn 39 cents a share in the quarter.

    The stock closed up $2.63 to $70 ahead of the earnings report before moving up to $74.75 in after-hours trading.