HP sells webOS operating system to LG Electronics






SAN FRANCISCO (Reuters) – Hewlett-Packard Co said on Monday it will sell the webOS operating system to South Korea’s LG Electronics Inc, unloading the smartphone software it acquired through a $ 1.2 billion acquisition of Palm in 2010.


LG will use the operating software, used in now-defunct Palm smartphones years ago, for its “smart” or Internet-connected TVs. The Asian electronics company had worked with HP on WebOS before offering to buy it outright.






Under the terms of their agreement, LG acquires the operating software’s source code, associated documentation, engineering talent, various associated websites, and licenses under HP’s intellectual property including patents covering fundamental operating system and user interface technology.


HP will retain the patents and all the technology relating to the cloud service of webOS, HP Chief Operating Officer Bill Veghte said in an interview.


“As we looked at it, we saw a very compelling IP that was very unique in the marketplace,” he said, adding that HP has already had a partnership with LG on webOS before the deal was announced.


“As a result of this collaboration, LG offered to acquire the webOS operating system technology,” Veghte said.


Skott Ahn, President and CTO, LG Electronics, said the company will incorporate the operating system in the Smart TV line-up first “and then hopefully all the other devices in the future.”


Both companies declined to reveal the terms of the deal.


LG will keep the WebOS team in Silicon Valley and, for now, will continue to be based out of HP offices, Ahn said.


HP opened its webOS mobile operating system to developers and companies in 2012 after trying to figure out how to recoup its investment in Palm, one of the pioneers of the smartphone industry.


The company had tried to build products based on webOS with the now-defunct TouchPad tablet its flagship product.


HP launched and discontinued the TouchPad in 2010, a little over a month after it hit store shelves with costly fanfare after it saw poor demand for a tablet priced on par with Apple’s dominant iPad.


WebOS is widely viewed as a strong mobile platform, but has been assailed for its paucity of applications, an important consideration while choosing a mobile device.


(Additional reporting By Paul Sandle and Alistair Barr; Editing by Gerald E. McCormick, Tim Dobbyn and M.D. Golan)


Tech News Headlines – Yahoo! News





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Alec Baldwin Is Busy Fulfilling Expectant Hilaria's Fruit Requests

Alec Baldwin Hilaria Baldwin Pregnancy Cravings
Mark Davis/WireImage


Fatherhood is nothing new to Alec Baldwin. But daddy duty later in life? Now that’s a whole new playing field.


Already dad to daughter Ireland, 17, the actor and his wife Hilaria are set to welcome their first child together this summer — and Baldwin is busy taking in the experience.


“Being around a woman when she’s pregnant and I’m older now — quite a bit older, actually — it’s just really … it’s amazing,” he joked with David Letterman Monday.


“Like my wife, the pregnant woman, the hormonally-charged woman if you will – uh, it’s thrilling. It’s a thrilling thing to observe.”


But the Orphans star, 54, isn’t just sitting back and taking it all in; The future father-of-two is doing his part to keep his yoga instructor wife relaxed, happy — and full!

“She’s been super fit her whole life and nutritionally very conscious. I’ll say to her, ‘You want to eat smart and keep up your nutritional values, but you gotta eat, you’re having a baby,’” he explains. “I’ll go, ‘Do you want me to go get you some pineapple?’ And she’ll be like, ‘I don’t know.’”


While Hilaria may be unsure of what she’s actually craving, Baldwin has been known to take matters into his own hands, heading out to the store to stock up on her favorite foods. And, as it turns out, his gut instinct that his pregnant wife could go for some fruit is typically proven true.


“There’s a container of pineapple that will probably serve four people. I put it on the counter [and] I go, ‘If you want some pineapple, here it is,’” he recalls of a recent episode.


“I go to the other room, I plug my phone in to charge it [and] sure enough I walk back — three quarters of the pineapple is gone and she’s like, ‘I was very hungry.’”


However, Hilaria is much more vocal when it comes to her constant bathroom breaks — or lack thereof. “My wife will be announcing, ‘I have to pee every five minutes, I can’t believe it!’ Then I’m like, ‘Well, we have four bathrooms in the apartment, so you’re covered. We got a bathroom in every quadrant of the house at the ready, clean and freshly papered and everything good to go,’” Baldwin jokes.


“And then the next day she’s like, ‘I don’t have to pee at all today. Something’s wrong!’ I’m getting whiplash here: pee, no pee…”


– Anya Leon


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WHO: Slight cancer risk after Japan nuke accident


LONDON (AP) — Two years after Japan's nuclear plant disaster, an international team of experts said Thursday that residents of areas hit by the highest doses of radiation face an increased cancer risk so small it probably won't be detectable.


In fact, experts calculated that increase at about 1 extra percentage point added to a Japanese infant's lifetime cancer risk.


"The additional risk is quite small and will probably be hidden by the noise of other (cancer) risks like people's lifestyle choices and statistical fluctuations," said Richard Wakeford of the University of Manchester, one of the authors of the report. "It's more important not to start smoking than having been in Fukushima."


The report was issued by the World Health Organization, which asked scientists to study the health effects of the disaster in Fukushima, a rural farming region.


On March 11, 2011, an earthquake and tsunami knocked out the Fukushima plant's power and cooling systems, causing meltdowns in three reactors and spewing radiation into the surrounding air, soil and water. The most exposed populations were directly under the plumes of radiation in the most affected communities in Fukushima, which is about 150 miles (240 kilometers) north of Tokyo.


In the report, the highest increases in risk are for people exposed as babies to radiation in the most heavily affected areas. Normally in Japan, the lifetime risk of developing cancer of an organ is about 41 percent for men and 29 percent for women. The new report said that for infants in the most heavily exposed areas, the radiation from Fukushima would add about 1 percentage point to those numbers.


Experts had been particularly worried about a spike in thyroid cancer, since radioactive iodine released in nuclear accidents is absorbed by the thyroid, especially in children. After the Chernobyl disaster, about 6,000 children exposed to radiation later developed thyroid cancer because many drank contaminated milk after the accident.


In Japan, dairy radiation levels were closely monitored, but children are not big milk drinkers there.


The WHO report estimated that women exposed as infants to the most radiation after the Fukushima accident would have a 70 percent higher chance of getting thyroid cancer in their lifetimes. But thyroid cancer is extremely rare and one of the most treatable cancers when caught early. A woman's normal lifetime risk of developing it is about 0.75 percent. That number would rise by 0.5 under the calculated increase for women who got the highest radiation doses as infants.


Wakeford said the increase may be so small it will probably not be observable.


For people beyond the most directly affected areas of Fukushima, Wakeford said the projected cancer risk from the radiation dropped dramatically. "The risks to everyone else were just infinitesimal."


David Brenner of Columbia University in New York, an expert on radiation-induced cancers, said that although the risk to individuals is tiny outside the most contaminated areas, some cancers might still result, at least in theory. But they'd be too rare to be detectable in overall cancer rates, he said.


Brenner said the numerical risk estimates in the WHO report were not surprising. He also said they should be considered imprecise because of the difficulty in determining risk from low doses of radiation. He was not connected with the WHO report.


Some experts said it was surprising that any increase in cancer was even predicted.


"On the basis of the radiation doses people have received, there is no reason to think there would be an increase in cancer in the next 50 years," said Wade Allison, an emeritus professor of physics at Oxford University, who also had no role in developing the new report. "The very small increase in cancers means that it's even less than the risk of crossing the road," he said.


WHO acknowledged in its report that it relied on some assumptions that may have resulted in an overestimate of the radiation dose in the general population.


Gerry Thomas, a professor of molecular pathology at Imperial College London, accused the United Nations health agency of hyping the cancer risk.


"It's understandable that WHO wants to err on the side of caution, but telling the Japanese about a barely significant personal risk may not be helpful," she said.


Thomas said the WHO report used inflated estimates of radiation doses and didn't properly take into account Japan's quick evacuation of people from Fukushima.


"This will fuel fears in Japan that could be more dangerous than the physical effects of radiation," she said, noting that people living under stress have higher rates of heart problems, suicide and mental illness.


In Japan, Norio Kanno, the chief of Iitate village, in one of the regions hardest hit by the disaster, harshly criticized the WHO report on Japanese public television channel NHK, describing it as "totally hypothetical."


Many people who remain in Fukushima still fear long-term health risks from the radiation, and some refuse to let their children play outside or eat locally grown food.


Some restrictions have been lifted on a 12-mile (20-kilometer) zone around the nuclear plant. But large sections of land in the area remain off-limits. Many residents aren't expected to be able to return to their homes for years.


Kanno accused the report's authors of exaggerating the cancer risk and stoking fear among residents.


"I'm enraged," he said.


___


Mari Yamaguchi in Tokyo and AP Science Writer Malcolm Ritter in New York contributed to this report.


__


Online:


WHO report: http://bit.ly/YDCXcb


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With record highs in sight, stocks face roadblocks

NEW YORK (Reuters) - If Wall Street needs to climb a wall of worry, it will have plenty of opportunity next week.


Major U.S. stock indexes will make another attempt at reaching all-time records, but the fitful pace that has dominated trading is likely to continue. Next Friday's unemployment report and the hefty spending cuts that look like they about to take effect will be at the forefront.


The importance of whether equities can reach and sustain those highs is more than Wall Street's usual fixation on numbers with psychological significance. Breaking through to uncharted territory is seen as a test of investors' faith in the rally.


"It's very significant," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.


"The thinking is, there's just not enough there for an extended bull run," he said. "If we do break through (record highs), then maybe the charts and price action are telling us there's something better ahead."


Flare-ups in the euro zone's sovereign debt crisis and next Friday's report on the U.S. labor market could jostle the market, though U.S. job indicators have generally been trending in a positive direction.


Small- and mid-cap stocks hit lifetime highs in February. Now the Dow Jones industrial average <.dji> and the S&P 500 <.spx> are racing each other to the top. The Dow, made up of 30 stocks, is about 75 points - less than 1 percent - away from its record close of 14,164.53, which it hit on October 9, 2007. The broader S&P is still 3 percent away from its closing high of 1,565.15, also reached on October 9, 2007.


The advantage may be in the Dow's court. So far in 2013, it has gained 7.5 percent, beating the S&P 500 by about 1 percent.


THE RALLY AND THE REALITY CHECK


The Dow's relative strength owes much to its unique make-up and calculation, as well as to investors' recent preference for buying value stocks likely to generate steady reliable gains, rather than growth stocks.


But the more defensive stance illustrates how stock buyers are getting concerned about this year's rally. While investors don't want to miss out on gains, they're picking up companies that are less likely to decline as much as high-flying names - if a market correction comes.


The Russell Value Index <.rav> is up 7.6 percent for the year so far, outpacing the Russell Growth Index's <.rag> 5.7 percent rise. Within the realm of the S&P 500, the consumer staples sector led the market in February, gaining 3.1 percent.


There is some concern that growth-oriented names are being eclipsed by defensive bets, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati.


"This isn't a be-all and end-all sell signal by any means, but we would feel much more comfortable if some of the more aggressive areas, like technology and small caps, would start to gain some leadership here," Detrick said.


Signs that investors are becoming concerned about the rally's pace is evident in the options market, where the ratio of put activity to call activity has recently shifted in favor of puts, which represent expectations for a stock to fall.


"We are seeing some put hedging in the financials, building up for the past month," said Henry Schwartz, president of options analytics firm Trade Alert in New York.


The put-to-call ratio representing an aggregate of about 562 financial stocks is 1:1, when normally, calls should be outnumbering puts.


Investors have no shortage of reasons to crave the relative safety of blue chips and defensive stocks. Although markets have mostly looked past uncertainty over Washington's plans to cut the deficit, fiscal policy negotiations still pose a risk to equities.


The $85 billion in spending cuts set to begin on Friday is expected to slow economic growth this year if policymakers do not reach a new deal. Markets so far have held firm despite the wrangling in Washington, but tangible economic effects could pinch stock prices going forward.


The International Monetary Fund warned that full implementation of the cuts would probably take at least 0.5 percentage point off U.S. growth this year.


EASY MONEY AND TEPID HIRING


Investors will also take in a round of economic data at a time when concerns are percolating that the market is being pushed up less by fundamentals and more by loose monetary policy around the world.


The main economic event will be Friday's non-farm payrolls report for February. The U.S. economy is expected to have added 160,000 jobs last month, only a tad higher than in January, in a sign the labor market is healing at a slow pace. The U.S. unemployment rate is forecast to hold steady at 7.9 percent.


While lackluster data has been a catalyst in the past for stock market gains as investors bet it would ensure continued stimulus from the Federal Reserve, that sentiment may be wearing thin.


Markets stumbled last week following worries that the Fed might wind down its quantitative easing program sooner than expected.


"It shows the underpinning of the market is being driven at this point by monetary policy," Hellwig said.


With investors questioning what is behind the rally, it will make a run to record highs even more significant, Hellwig added.


"There's smart people that are in the bull camp and the bear camp and the muddle-through camp," Hellwig said. "The fact that you can statistically, using historical evidence, make a case for going higher, lower, or staying the same makes this number very important this time around."


(Wall St Week Ahead runs every Friday. Comments or questions on this column can be emailed to: leah.schnurr(at)thomsonreuters.com)


(Reporting by Leah Schnurr; Additional reporting by Doris Frankel in Chicago; Editing by Jan Paschal)



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Jesse Tyler Ferguson Gives a Wedding Planning Update















03/01/2013 at 11:30 AM EST







Jesse Tyler Ferguson and Justin Mikita


Desiree Navarro/Wireimage


Wedding bells will soon be ringing for Modern Family actor Jesse Tyler Ferguson and his fiancé, lawyer Justin Mikita.

The couple is getting married this summer.

"We are in the middle of wedding planning. It's a process, but it's been a lot of fun," Ferguson told PEOPLE at Wednesday's Tie the Knot spring collection celebration party in New York.

Fortunately for Ferguson, who got engaged to Mikita last July while vacationing in Mexico, the stresses of preparing for the big day have not taken a toll on him.

"No Groomzilla here," Ferguson, 37, says with a laugh. "We have a really great wedding planner who is managing everything. It's been very exciting. I'm very picky about things, and everything is coming together nicely."

One thing to expect at the wedding: good drinks.

"We really want a great mixologist for a craft cocktail bar," says Mikita, 27. "We are looking around for one. There are some great New York speakeasies like Milk and Honey. … So we're trying to bring a cool vibe like that to our wedding."

As for the guest list, "We want Beyoncé to perform at our wedding," jokes Mikita.

Ferguson has an aim high approach to the guest list, too. "We want the Obamas to be our guests," he says, but adds, "It's going to be a small ceremony."

Amid the wedding planning, the two have created a new line of bow tiesnow available at The Tie Bar for their Tie the Knot Foundation that benefits marriage equality organizations. Working together on their passion project "has only helped and made our relationship and our love for each other grow," says Ferguson.

After dating for two years, the pair hit it off quickly.

"First of all, he's incredibly attractive and he's a lawyer and he's sweet. That's all those things you look for, but on top of that he has an amazing family who he loves so much, he's good to his siblings and his best friends," explains Ferguson. "I've always wanted someone like that."

"Justin is one of the most loving people I know," he continues. "If I didn't snatch him up, I would be an idiot. You want to tie that up immediately."

And what kind of partner is the Emmy-nominated Modern Family star?

"He's caring and kind and thoughtful," says Mikita. "We both bring a lot to the table and help each other in many ways, and I think that's the reason why it's right."

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Turkish PM's Zionism comments "objectionable:" Kerry


ANKARA (Reuters) - Secretary of State John Kerry said on Friday the United States found a comment by Turkey's prime minister, likening Zionism to crimes against humanity, "objectionable", overshadowing their talks on the crisis in neighboring Syria.


Kerry, on his first trip to a Muslim nation since taking office, is meeting Turkish leaders for talks meant to focus on Syria's civil war and bilateral interests from energy security to counter-terrorism.


But the comment by Turkish Prime Minister Tayyip Erdogan at a U.N. meeting in Vienna this week, condemned by his Israeli counterpart, the White House and U.N. Secretary-General Ban Ki-moon, has clouded his trip.


"We not only disagree with it, we found it objectionable," Kerry told a news conference with Turkish Foreign Minister Ahmet Davutoglu, saying he raised the issue directly with Davutoglu and would do so with Erdogan.


"That said, Turkey and Israel are both vital allies of the United States and we want to see them work together in order to be able to go beyond the rhetoric and begin to take concrete steps to change this relationship," Kerry added.


Washington needs all the allies it can get as it navigates the political currents of the Middle East, and sees Turkey as the key player in supporting Syria's opposition and planning for the era after President Bashar al-Assad.


But the collapse of Ankara's ties with Israel have undermined U.S. hopes that Turkey could play a role as a broker in the broader region.


Erdogan told the U.N. Alliance of Civilizations meeting in Vienna on Wednesday: "Just as with Zionism, anti-Semitism and fascism, it has become necessary to view Islamophobia as a crime against humanity."


Erdogan's caustic rhetoric on Israel has in the past won applause from conservative supporters at home but raised increasing concern among Western allies.


Ties between Israel and mostly Muslim Turkey have been frosty since 2010, when Israeli marines killed nine Turks in fighting aboard a Palestinian aid ship that tried to breach Israel's blockade of the Gaza Strip.


"If Israel wants to hear positive statements from Turkey it needs to reconsider its attitude both towards us and towards the West Bank," Davutoglu told the news conference.


(Writing by Nick Tattersall; Editing by Michael Roddy)



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Rachel McAdams Finds Unlikely Suitor at Toronto Raptors Game















02/28/2013 at 11:15 AM EST







Rachel McAdams and the Toronto Raptors's velociraptor mascot


IPHOTO


Rachel McAdams's last boyfriend was a little older than her. Now it looks like she's keeping company with someone from the Cretaceous Period.

The actress, 34, who recently split with her beau of two years, actor Michael Sheen, was courted by the Toronto Raptors's velociraptor mascot on Monday night.

He presented the Midnight in Paris actress with flowers and a stuffed dinosaur as the Toronto public-address announcer introduced the London, Ontario, native to the crowd, who cheered wildly.

McAdams, sporting newly red locks, seemed charmingly embarrassed by the whole episode, but took it in stride, grinning her famous smile as she accepted the presents.

As NBA mascots go, the Raptor would be a prize catch for any Hollywood actress. Described as "165 lbs. of pure solid fur," he's been voted the most popular NBA mascot in each of the past three seasons.

He also "enjoys making people laugh, whether with him or at him, usually at him," according to his bio.

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Medicare paid $5.1B for poor nursing home care


SAN FRANCISCO (AP) — Medicare paid billions in taxpayer dollars to nursing homes nationwide that were not meeting basic requirements to look after their residents, government investigators have found.


The report, released Thursday by the Department of Health and Human Services' inspector general, said Medicare paid about $5.1 billion for patients to stay in skilled nursing facilities that failed to meet federal quality of care rules in 2009, in some cases resulting in dangerous and neglectful conditions.


One out of every three times patients wound up in nursing homes that year, they landed in facilities that failed to follow basic care requirements laid out by the federal agency that administers Medicare, investigators estimated.


By law, nursing homes need to write up care plans specially tailored for each resident, so doctors, nurses, therapists and all other caregivers are on the same page about how to help residents reach the highest possible levels of physical, mental and psychological well-being.


Not only are residents often going without the crucial help they need, but the government could be spending taxpayer money on facilities that could endanger people's health, the report concluded. The findings come as concerns about health care quality and cost are garnering heightened attention as the Obama administration implements the nation's sweeping health care overhaul.


"These findings raise concerns about what Medicare is paying for," the report said.


Investigators estimate that in one out of five stays, patients' health problems weren't addressed in the care plans, falling far short of government directives. For example, one home made no plans to monitor a patient's use of two anti-psychotic drugs and one depression medication, even though the drugs could have serious side effects.


In other cases, residents got therapy they didn't need, which the report said was in the nursing homes' financial interest because they would be reimbursed at a higher rate by Medicare.


In one example, a patient kept getting physical and occupational therapy even though the care plan said all the health goals had been met, the report said.


The Office of Inspector General's report was based on medical records from 190 patient visits to nursing homes in 42 states that lasted at least three weeks, which investigators said gave them a statistically valid sample of Medicare beneficiaries' experiences in skilled nursing facilities.


That sample represents about 1.1 million patient visits to nursing homes nationwide in 2009, the most recent year for which data was available, according to the review.


Overall, the review raises questions about whether the system is allowing homes to get paid for poor quality services that may be harming residents, investigators said, and recommended that the Centers for Medicare & Medicaid Services tie payments to homes' abilities to meet basic care requirements. The report also recommended that the agency strengthen its regulations and ramp up its oversight. The review did not name individual homes, nor did it estimate the number of patients who had been mistreated, but instead looked at the overall number of stays in which problems arose.


In response, the agency agreed that it should consider tying Medicare reimbursements to homes' provision of good care. CMS also said in written comments that it is reviewing its own regulations to improve enforcement at the homes.


"Medicare has made significant changes to the way we pay providers thanks to the health care law, to reward better quality care," Medicare spokesman Brian Cook said in a statement to AP. "We are taking steps to make sure these facilities have the resources to improve the quality of their care, and make sure Medicare is paying for the quality of care that beneficiaries are entitled to."


CMS hires state-level agencies to survey the homes and make sure they are complying with federal law, and can require correction plans, deny payment or end a contract with a home if major deficiencies come to light. The agency also said it would follow up on potential enforcement at the homes featured in the report.


Greg Crist, a Washington-based spokeswoman for the American Health Care Association, which represents the largest share of skilled nursing facilities nationwide, said overall nursing home operators are well regulated and follow federal guidelines but added that he could not fully comment on the report's conclusions without having had the chance to read it.


"Our members begin every treatment with the individual's personal health needs at the forefront. This is a hands-on process, involving doctors and even family members in an effort to enhance the health outcome of the patient," Crist said.


Virginia Fichera, who has relatives in two nursing homes in New York, said she would welcome a greater push for accountability at skilled nursing facilities.


"Once you're in a nursing home, if things don't go right, you're really a prisoner," said Fichera, a retired professor in Sterling, NY. "As a concerned relative, you just want to know the care is good, and if there are problems, why they are happening and when they'll be fixed."


Once residents are ready to go back home or transfer to another facility, federal law also requires that the homes write special plans to make sure patients are safely discharged.


Investigators found the homes didn't always do what was needed to ensure a smooth transition.


In nearly one-third of cases, facilities also did not provide enough information when the patient moved to another setting, the report found.


___


On the Web:


The OIG report: http://1.usa.gov/VaztQm


The Medicare nursing home database: http://www.medicare.gov/NursingHomeCompare/search.aspx?bhcp=1&AspxAutoDetectCookieSupport=1


___


Follow Garance Burke on Twitter at —http://twitter.com/garanceburke.


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Wall Street advances, on track for third day of gains

NEW YORK (Reuters) - U.S. stocks edged higher on Thursday, pointing to a third straight day of gains in the wake of some strong economic data, though a further advance may be limited with major averages near multi-year highs.


While some data released Thursday were rosy, a read on economic growth was weaker than expected, and analysts said a pullback may be in store a day after major equity indexes posted their biggest daily advance since early January.


Over the past two sessions, the S&P 500 has gained 1.9 percent, rising back above the closely watched level of 1,500. The Dow Jones industrial average moved within striking distance of an all-time high.


"The market is looking choppy, and I think investors should use this as an opportunity to sell into strength," said Matt McCormick, a money manager at Cincinnati-based Bahl & Gaynor. "This seems like an environment where someone should be conservative instead of aggressive."


The U.S. economy grew 0.1 percent in the fourth quarter, a weaker pace than expected, although a slightly better performance in exports and fewer imports led the government to scratch an earlier estimate of an economic contraction.


Separately, the number of Americans filing new claims for unemployment benefits fell more than expected last week, while the February Chicago Purchasing Managers Index unexpectedly rose to an 11-month high.


While equity markets suffered steep losses earlier in the week on concerns over European debt, they have since recovered, with the gains fueled by strong data and recent comments by Federal Reserve Chairman Ben Bernanke that showed continued support for the Fed's economic stimulus policy.


"Growth is still anemic and there are still issues with Europe. People seem to be ignoring the signs that would otherwise give them cause for concern," said McCormick, who helps oversee $8.2 billion in assets.


The Dow Jones industrial average <.dji> was up 27.27 points, or 0.19 percent, at 14,102.64. The Standard & Poor's 500 Index <.spx> was up 5.13 points, or 0.34 percent, at 1,521.12. The Nasdaq Composite Index <.ixic> was up 13.75 points, or 0.43 percent, at 3,176.01.


The benchmark S&P 500 has gained 1.4 percent in February, the Dow is up 1.7 percent and the Nasdaq has added 1 percent.


J.C. Penney Co Inc slumped 18 percent to $17.32 as the S&P's biggest decliner after the department store reported a steep drop in sales on Wednesday. Groupon Inc also slumped on weak revenue, with the stock off 25 percent at $4.50.


Mylan Inc jumped 6.5 percent to $30.45 on the Nasdaq after the generic drugmaker posted a 25 percent rise in fourth-quarter profit.


Investors were keeping an eye on the debate in Washington over sequestration - U.S. government budget cuts that will take effect starting on Friday if lawmakers fail to reach an agreement on spending and taxes. President Barack Obama and Republican congressional leaders arranged to hold last-ditch talks to prevent the cuts, but expectations were low that any deal would be produced.


With 93 percent of the S&P 500 companies having reported results so far, 69.5 percent have beaten profit expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters, according to Thomson Reuters data.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6.2 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Bernadette Baum)



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HP sells webOS operating system to LG Electronics






SAN FRANCISCO (Reuters) – Hewlett-Packard Co said on Monday it will sell the webOS operating system to South Korea’s LG Electronics Inc, unloading the smartphone software it acquired through a $ 1.2 billion acquisition of Palm in 2010.


LG will use the operating software, used in now-defunct Palm smartphones years ago, for its “smart” or Internet-connected TVs. The Asian electronics company had worked with HP on WebOS before offering to buy it outright.






Under the terms of their agreement, LG acquires the operating software’s source code, associated documentation, engineering talent, various associated websites, and licenses under HP’s intellectual property including patents covering fundamental operating system and user interface technology.


HP will retain the patents and all the technology relating to the cloud service of webOS, HP Chief Operating Officer Bill Veghte said in an interview.


“As we looked at it, we saw a very compelling IP that was very unique in the marketplace,” he said, adding that HP has already had a partnership with LG on webOS before the deal was announced.


“As a result of this collaboration, LG offered to acquire the webOS operating system technology,” Veghte said.


Skott Ahn, President and CTO, LG Electronics, said the company will incorporate the operating system in the Smart TV line-up first “and then hopefully all the other devices in the future.”


Both companies declined to reveal the terms of the deal.


LG will keep the WebOS team in Silicon Valley and, for now, will continue to be based out of HP offices, Ahn said.


HP opened its webOS mobile operating system to developers and companies in 2012 after trying to figure out how to recoup its investment in Palm, one of the pioneers of the smartphone industry.


The company had tried to build products based on webOS with the now-defunct TouchPad tablet its flagship product.


HP launched and discontinued the TouchPad in 2010, a little over a month after it hit store shelves with costly fanfare after it saw poor demand for a tablet priced on par with Apple’s dominant iPad.


WebOS is widely viewed as a strong mobile platform, but has been assailed for its paucity of applications, an important consideration while choosing a mobile device.


(Additional reporting By Paul Sandle and Alistair Barr; Editing by Gerald E. McCormick, Tim Dobbyn and M.D. Golan)


Tech News Headlines – Yahoo! News





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