Expect the following technology stocks to be among Thursday's most actively traded issues: GoTo.com, Go2Net, LSI Logic and Teleglobe.
GoTo.com topped analysts' estimates in its second quarter Wednesday even though it lost $7 million, or 20 cents a share, on sales of $3.6 million.
Its shares plunged 5 1/4, or 15 percent, to 29 5/8 ahead of the earnings report.
First Call consensus expected the Pasadena, Calif. company to lose 22 cents a share in the quarter.
GoTo.com, which operates an online marketplace for consumers and online advertisers, said it had more than 10,000 advertisers and 10 million users who benefited from its service in the quarter.
Last quarter, GoTo.com posted a loss of $7.4 million, or 24 cents a share, on sales of $1.5 million.
After its June initial public offering, the stock stormed up to a high of 69 7/8 in early July. It has since pulled back with the rest of the downtrodden Internet sector.
All three analysts following the stock maintain either a "buy" or "strong buy" rating on the stock.
The Internet portal firm announced Wednesday it will pay $55 million to acquire Dogpile LLC, merging the Net's two most popular metasearch engines.
"The industry is starting to see the importance of metasearching, and with the acquisition of Dogpile we now absolutely, unequivocally own this category," CEO Russell Horowitz told Reuters.
Web consultant Media Metrix reported Dogpile received 2.3 million unique visitors in June, which was comparable to MetaCrawler's reach.
Go2Net will fund the purchase with $40 million in stock and $15 million in cash.
Go2Net closed up 1 5/8 to 50 3/4 ahead of the announcement.
The chipmaker called off its plans to offer up to $287 million of convertible subordinated debt and up to 5.75 million shares of common stock.
"Current financial market conditions, especially when contrasted with our improving business fundamentals, make an offering unattractive at this time," said CEO Wilfred Corrigan.
The company also announced plans to increase its current registration statement to cover the offer of up to $600 million in debt and equity securities over the next two years.
LSI shares inched up 3/8 to 21 3/8 Wednesday.
Canada's largest long-distance carrier bombed in its second quarter Wednesday, earning only $13.7 million, or 5 cents a share, on sales of $710 million.
First Call consensus lowered its estimate to 15 cents a share from 22 cents a share, but it still wasn't low enough.
In the year-ago period, Teleglobe earned $56 million, or 22 cents a share, on sales of $882 million.
Company officials blamed the disappointing results on intense competition from U.S. long-distance companies and losses on the conversion of foreign currencies.
Reuters contributed to this report.