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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.