HP Plans to Turn WebOS Software Open-Source

Hewlett-Packard (NYSE:HPQ) has announced plans to turn its troubled WebOS software into an open-source project. HP acquired the software program in its acquisition of Palm Inc. last year and used it in its Palm mobile phone and TouchPad tablet, but after disappointing sales the company discontinued the hardware that used the platform. HP hopes that software developers will improve upon WebOS and release their own versions to market.

Bloomberg Businessweek quoted HP CEO Meg Whitman who said, “WebOS is the only platform designed from the ground up to be mobile, cloud-connected and scalable. By contributing this innovation, HP unleashes the creativity of the open-source community to advance a new generation of applications and devices.”

The disappointing software has taken its toll on HP. Bloomberg Businessweek reports that the company posted $1.64 billion in its expenses related to discontinuing its devices that utilized the WebOS software.

Here’s how Hewlett Packard and other mobile OS companies are trading now:

Hewlett-Packard Company (NYSE:HPQ): HPQ shares recently traded at $27.35, down $0.43, or 1.55%. They have traded in a 52-week range of $21.50 to $49.39. Volume today was 5,023,423 shares versus a 3-month average volume of 24,451,200 shares. The company’s trailing P/E is 8.24, while trailing earnings are $3.32 per share. Get the most recent company news and stock data here >>

Google Inc. (NASDAQ:GOOG): GOOG shares recently traded at $621.44, down $5.98, or 0.95%. They have traded in a 52-week range of $473.02 to $642.96. Volume today was 619,726 shares versus a 3-month average volume of 3,138,670 shares. The company’s trailing P/E is 21.18, while trailing earnings are $29.34 per share. Get the most recent company news and stock data here >>

Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $391.35, down $2.27, or 0.58%. They have traded in a 52-week range of $310.50 to $426.70. Volume today was 3,140,771 shares versus a 3-month average volume of 18,886,600 shares. The company’s trailing P/E is 14.14, while trailing earnings are $27.68 per share. Get the most recent company news and stock data here >>

Research In Motion Limited (NASDAQ:RIMM): RIMM shares recently traded at $16.17, down $0.29, or 1.76%. They have traded in a 52-week range of $15.98 to $70.54. Volume today was 2,543,942 shares versus a 3-month average volume of 22,774,600 shares. The company’s trailing P/E is 2.95, while trailing earnings are $5.48 per share. Get the most recent company news and stock data here >>