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Friday's hot stocks
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November 5, 1999: 11:32 a.m. ET
Teligent rises on Microsoft investment; Inprise aided by Cisco deal
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NEW YORK (CNNfn) - An investment from Microsoft sent shares of a communications company soaring Friday while a deal with Cisco Systems lifted stock in a software firm.
Teligent (TGNT) jumped 28 percent after the Internet and telecommunications company said it received $500 million from an investment group led by Microsoft (MSFT)
Stock in Vienna, Va.-based Teligent gained 12-7/8 to 60-7/8.
Stock in Inprise Corp. (INPR) rose 19 percent after the company said Cisco Systems (CSCO) agreed to use its Internet-enabling software for one of Cisco's network management products. Terms of the deal were not disclosed.
Scotts Valley, Calif.-based Inprise gained 13/16 to 5-3/16.
Cybergold Inc. (CGLD) rose 12 percent after the Internet marketing firm said its third-quarter revenue increased 387 percent to $1.38 million.
In its first quarter as a public company, Cybergold's net loss was $2.92 million, or 15 cents per common share.
Oakland, Calif.-based Cybergold gained 1-1/16 to 10.
Action Performance Companies Inc (ACTN), which distributes motor sports merchandise, plunged 39 percent after it warned that fourth- quarter earnings would fall far short of analysts estimates.
Phoenix, Ariz.-based Action Performance fell 8-3/4 to 13-7/8.
TD Waterhouse (TWE) rose 18 percent after Credit Suisse First Boston initiated coverage on the online broker with a "strong buy" recommendation.
Shares of New York-based TD Waterhouse gained 2-5/16 to 15-1/16.
STAR Telecommunications Inc. (STRX) dropped 15 percent after the telecommunications provider said its fourth-quarter net loss fell to $8.8 million, or 15 cents per share, compared with net income of $2.4 million, or 5 cents per share, in the year-earlier period.
Santa Barbara, Calif.-based STAR Telecommunications lost 1-3/8 to 7-1/16.
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