CHICAGO, Feb. 27, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Hewlett-Packard Co. (NYSE: HPQ), Apple Inc. (Nasdaq: AAPL), Google Inc. (Nasdaq: GOOG), eBay Inc. (Nasdaq: EBAY) and Microsoft Corp. (Nasdaq: MSFT).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Tuesday's Analyst Blog:
H-P Sells webOS, Chooses Android
Hewlett-Packard Co. (NYSE: HPQ) finally put an end to its incessant efforts to breathe life into the webOS mobile operating system platform. The OS was inherited from Palm Inc., which it acquired in 2010 for $1.2 billion. Failing to do much to promote the platform, the tech giant has now decided to sell it to South Korean company LG Electronics Inc. for an undisclosed amount.
The multinational electronic company, which deals in mobile communications, home entertainment and appliances, air conditioning and energy solutions, plans to use the webOS technology to introduce a connected television (Smart TV) initially and eventually integrate it in its other home appliances.
Per the deal terms, H-P will offload the source code, documents and websites associated with webOS, as well as the experienced staff. Apart from this, H-P will transfer to LG other webOS products (including patent rights acquired from Palm and user interface technologies).
H-P left no stone unturned to make the webOS platform a success. In a Strategy Summit held in San Francisco in early 2011, H-P's then chief executive officer (CEO) Leo Apotheker announced the company's intention to develop the webOS platform into a leading connectivity platform. The tech chief also announced plans to launch the TouchPad tablet and new smartphones on webOS.
But the TouchPad tablet and smartphone failed to carve a niche in a market dominated by Apple Inc.'s (Nasdaq: AAPL) iPad and iPhone, as well as Google Inc.'s (Nasdaq: GOOG) Android-based devices. The devices did not reach internal milestones or achieve financial targets.
Actually, the webOS platform itself lagged far behind Apple's iOS and Google's Android operating system platforms. Hence, the CEO had no option than to reconsider the continuation of its webOS-based devices.
Hence, in a major restructuring plan announced in Aug 2011, H-P decided to abandon the underperforming webOS devices. However, the tech behemoth stated that it would continue to explore options to optimize the value of the webOS software going forward.
But in Dec 2011, H-P's present chief, Meg Whitman, previously eBay Inc.'s (Nasdaq: EBAY) chief, announced plans to make its webOS mobile system available as open-source software that anyone can freely use and modify. Previously, the company recorded a pre-tax charge of $1.6 billion to account for the non-profitable business.
H-P appears optimistic about its new tablet (Slate 7), which will run on the Android OS. A higher-end version based on Microsoft Corp.'s (Nasdaq: MSFT) Win 8 operating system is already available. The Android tablet will hit stores in April with a probable price tag of $169.
While H-P's late entry into the tablet market makes things a little difficult for the company, we can't help thinking that it is 'better late than never. We therefore take the announcement positively.
Currently, H-P has a Zacks Rank #2 (Buy).
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
SOURCE Zacks Investment Research, Inc.