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Looking ahead, PacificNet projects first-quarter earnings of $700,000 to $900,000, or 7 cents to 9 cents a share, and revenue of $13 million to $14 million. For the second quarter, the company sees a profit of of $1 million to $1.2 million, or 10 cents to 12 cents a share. The company predicts second-quarter sales of $14 million to $15 million. Shares recently had gained $1.04 to $8.71.

Level 3 Communications (LVLT) rose 2% after the networking company agreed to acquire privately held telecom concern ICG Communications for $163 million in cash and stock. The deal, which consists of $127 million in stock and $36 million in cash, is expected to close during the middle of 2006. "This transaction gives Level 3 the opportunity to further expand our footprint into areas where we see demand for our services, and to realize cost savings," Level 3 said in a statement. On a stand-alone basis, ICG is expected to generate annualized revenue of $75 million to $80 million and about $10 million to $15 million in positive cash flow. After the company is fully integrated with Level 3, which is expected to occur later this year, cash flow is expected to jump to $30 million to $40 million. Shares of Level 3 were trading up 8 cents to $4.91.

Shares of Computer Horizons (CHRZ) fell 1% after the information technology services company announced the resignation of its chief financial officer, Michael Shea. The company said that Shea is leaving the company to pursue another opportunity. Computer Horizons named Barbara Ross, the company's director of internal audit, to replace Shea. The company's shares were down 6 cents to $5.09.

Other technology movers included Intel (INTC), down 23 cents to $19.22; TiVo (TIVO), up 95 cents to $9; Sirius Satellite Radio (SIRI), down 14 cents to $5.18; JDSU (JDSU), down 15 cents to $3.53; Sun Microsystems (SUNW), down 10 cents to $4.89; Cisco Systems (CSCO), up 9 cents to $21.27; Ciena (CIEN), down 21 cents to $4.11; Avanex (AVNX), down 34 cents to $2.46; Microsoft (MSFT), down 11 cents to $26.96; Dell (DELL), down 27 cents to $29.08; Apple Computer (AAPL), down 77 cents to $65.70; Oracle (ORCL), up 10 cents to $13.78; Applied Materials (AMAT), down 27 cents to $17.84; Advanced Micro Devices (AMD), down 44 cents to $31.36; Nortel Networks (NT), down 2 cents to $2.83; and Lucent Technologies (LU), down 2 cents to $2.98.

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