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answers:

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What's the difference between SAML and federated login with OAuth? Which solution makes more sense, if a company wants to use a third-party webapp, and but also wants single sign-on and be the authentication authority?

A: 

SAML has a variety of "profiles" to choose from allow other users to "log in" to your site. SAML-P or SAML Passive is very common and fairly simple to set up. WS-Trust is similar and it too allows for federation among websites.

OAuth is designed for authorization. You can read more here:

http://stackoverflow.com/questions/1087031/whats-the-difference-between-openid-and-oauth

MakerOfThings7