STOCKS TO WATCH: CMGI, Intel, Liberate and Outpost.com

CMGI will be active Friday after it beat the Street in its fourth quarter, losing $633.7 million, or $2.17 a share, on sales of $377.2 million.

First Call Corp. consensus expected it to lose $2.45 a share in the quarter.

CMGI shares closed off 6 cents to $36.38 ahead of the earnings report.

Including special charges, CMGI lost $1.37 billion on revenue of $898.1 million during the fiscal year. That compares to earnings of $474.6 million on revenue of $186.4 million during fiscal year 1999.

Intel will be the most active stock on Wall Street Friday after it shocked the world by warning that its third quarter sales will fall short of previous estimates.

Company officials said weak demand in Europe is mainly to blame.

Intel said late Thursday that its third-quarter sales will come in around $8.5 billion, up only 3 percent to 5 percent from the $8.3 billion it recorded in the second quarter.

Intel shares closed off $1.56 to $61.50 ahead of the warning but fell $9.67 to $51.81 in after-hours trading.

It also said gross profit margins will be right around 62 percent, give or take a point, slightly below the 63 percent to 64 percent it had previously anticipated.

First Call Corp. consensus expects Intel to earn 41 cents a share in the third quarter.

In its second quarter, Intel topped analysts' estimates, earning $3.5 billion, or 50 cents a share, on sales of $8.3 billion.

Liberate will be active after it posted a smaller-than-expected loss in its first quarter, losing $9 million, or 9 cents a share, on sales of $9.4 million.

First Call Corp. consensus expected it to lose 21 cents a share in the quarter.

Its shares closed up 44 cents to $29.13 ahead of the earnings report.

The $9.4 million in sales represents a 78 percent improvement from the year-ago quarter, when it lost $10.1 million, or 14 cents a share, on sales of $5.3 million.

Its shares moved as high as $148.50 in December after falling to a low of $14.19 last September.

Investors will keep an eye on Outpost.com Friday after it topped analysts' estimates in the second quarter and predicted better-than-expected results for the full year.

The online retailer of technology products reported a fiscal second quarter net loss of $6.7 million, or 23 cents a share.

Analysts were expecting a loss of 26 cents a share in the quarter.

Full fiscal year results should "significantly" exceed consensus forecasts, said Bob Bowman, president and CEO. First Call currently predicts a loss of 98 cents per share for fiscal 2001.

Bowman reiterated his prediction of profitability in calendar 2001.

Second quarter sales increased 97 percent year-over-year to $72.3 million. Gross margin rose 14.1 percent from 11.5 percent a year earlier.