HP acquired webOS as part of its $1.2 billion acquisition of Palm last year. Rumors have swirled around the technology since HP announced plans to ditch its WebOS hardware during the summer. Potential scenarios included selling off or licensing the operating system to other vendors.
The move could disappoint those calling on HP to monetize the technology by licensing it out. However, open sourcing Web OS should help drive future innovation by opening the software up to a broader ecosystem.
Shares were down 1% to $27.63 in premarket trading Monday.
Online retail giant Amazon (AMZN - Get Report) likely soon will be releasing an improved version of the much-criticized Kindle Fire product, according to The New York Times. Shares were down 0.6% to $191.90.
FedEx (FDX - Get Report) said Monday is its biggest shipping day of the holiday season, maybe even in the company's history, as businesses restock their shelves and online, home shopping volume increases. FedEx anticipates handling more than 17 million shipments on Monday, up from the peak of 15.6 million a year ago. The company said it has hired an additional 20,000 employees to handle holiday shipping volume. Shares were down 0.2% to $83.04.
Media and entertainment company Time Warner (TWX - Get Report) has approached Endemol, the Dutch producer of the Big Brother TV shows, with a revised, all-cash offer of $1.3 billion, according to The New York Post. This comes as Endemol tries to come to a debt reorganization agreement with creditors. The revised offer has the same value as the previous one.
Industrial conglomerate Ingersoll Rand (IR - Get Report)raised its quarterly dividend by 33% to 16 cents a share.
Cooper Tire (CTB - Get Report) and United Steelworkers will resume talks on Tuesday, with a federal mediator attending, a report said. The company locked out 1,050 unionized workers from its Findlay, Ohio, plant on Nov. 28, one day after union members voted against a tentative three-year contract. The company then brought in temporary workers.
Shares of Blue Coat Systems (BCSI) rose almost 44% to $25.11 on Friday after the Web Security company agreed to sell itself to an investor group led by private-equity firm Thoma Bravo for about $1.3 billion in cash.
Adtran (ADTN - Get Report) agreed to buy the fixed line broadband access business of Nokia Siemens Networks. The deal is expected to close in April. Terms of the deal weren't disclosed. The sale is part of Nokia Siemens Networks new strategy. It said last month it planned to focus on mobile broadband and services and will cut about 17,000 jobs.
DuPont (DD - Get Report) holds investor meetings Monday and Tuesday in Wilmington, Del. On Friday, DuPont lowered its 2011 full-year earnings guidance because of slower-than-anticipated growth in the fourth quarter. "We are seeing slower growth in certain segments during the fourth quarter, driven by global economic uncertainty," said DuPont CEO Ellen Kullman, in a statement. "This uncertainty is contributing to ongoing conservative cash management in some supply chains." The stock fell 3.2% on Friday to $45.04. -- Written by Joseph Woelfel and Andrea Tse
>To contact the writer of this article, click here: Andrea Tse.
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