No, you can't. An INSERT, UPDATE, DELETE and MERGE statement can only operate on a single table.
I'm not sure exactly what you want to do, but you can use the OUTPUT clause to save data affected by the statement into a table and work from there. For instance:
MERGE Locations T
USING Locations_stage S ON T.LocationID=S.LocationID
WHEN MATCHED THEN
UPDATE SET LocationName=S.LocationName
OUTPUT inserted.LocationName, S.LocationId INTO #mytemp(LocationName, LocationId)
;