Investors had plenty of news to keep them busy after the close Tuesday, but volume was again light following another

selloff in regular trading.

Golden State Bancorp

(GSB) - Get Report

was the most active stock and one of the biggest percentage gainers after the close.

Citigroup

(C) - Get Report

agreed to acquire the San Francisco thrift for $5.8 billion, and Golden State was trading up 6.4% to $38.85.

Another mover was

Gap

(GPS) - Get Report

, but it was heading in the opposite direction. The apparel retailer was falling 6.8% to $14.92 on word CEO Mickey Drexler

will step down once the company finds a new chief.

PacifiCare Health

(PHSY)

was also under pressure, falling 2.1% to $28.11 after the company cut its guidance for the second quarter and full year.

Sycamore Networks

(SCMR)

was faring better, tacking on 2% to $3.65. After the close Sycamore reported a narrower loss than analysts were expecting for the latest quarter.

Volume was on the light side, but it wasn't as anemic as in the extra session Monday. In the first 90 minutes of extended trading, about 2.6 million shares had changed hands among the top-20 volume movers on the Instinet platform.

Elsewhere, widely held tech stocks were being actively exchanged.

Intel

(INTC) - Get Report

was up 0.2%, and the

Nasdaq 100 Unit Trust

(QQQ) - Get Report

was slipping 0.1%.

Cisco

(CSCO) - Get Report

was gaining 0.1%.

Microsoft

(MSFT) - Get Report

,

Sun

(SUNW) - Get Report

and

WorldCom

(WCOM)

were unchanged.

Oracle

(ORCL) - Get Report

was inching up 0.6%, and

Qualcomm

(QCOM) - Get Report

was down 0.2%. The

S&P 500 Depositary Receipts

(SPY) - Get Report

were lower by 0.1%.