o2 sensor code

[stever318is]

can a faulty o2 sensor cause a temp gauge to malfunction.  Car runs horribly as temp gauge passes 3/4 then check engine light comes on, push clutch in downshift and gun it check engine light goes off power returns gauge returns to halfway.  Did the pump pedal 5 times to get o2 sensor fault code. Note temp gauge is erratic at times always corresponding with misfire past half point.

idea's??