Teligent rises on Dell deal, 3Q anticipation

Teligent (Nasdaq: TGNT) rose 28 percent Wednesday, ahead of its third quarter results due out after the bell; the broadband communications services company also announced a deal with Dell.

Shares were up 1.95 to 7.94.

Dell (Nasdaq: DELL) said Wednesday it has an agreement with Teligent to deliver bandwidth to the desktop for business customers in Teligent-connected buildings.

Under the deal Dell will provide the PCs and Teligent will provide affordable broadband connections. Early next year, Dell will begin offering hardware to businesses in Teligent-connected buildings.

Financial details of the deal were not released.

The company also said Wednesday it will also cover anticipated 4th quarter 2000 and 2001 revenue and business metrics in a Thursday conference call to discuss results.

Investment firm Ladenburg Thalmann initiated coverage of the stock at near-term hold/long-term accumulate Wednesday.