Adobe Inc.

APPLE INC., $263.41, Nasdaq symbol AAPL, rose 3% this week after the company relaxed some of the restrictions it places on software developers who write programs for its iPhone and iPad mobile devices. Relaxing these restrictions will make it easier for programmers to write software for multiple devices. That should expand the number of programs available to iPhone and iPad users, and let Apple collect more fees from software sales. Apple is a buy....

MAJOR DRILLING, $27.04, symbol MDI on Toronto, jumped 10% this week after the company reported sharply higher results in the latest quarter. Major’s revenue jumped 75.2% in the three months ended July 31, 2010, to $109.5 million from $62.5 million a year earlier. The company earned $5.1 million, or $0.21 a share. A year earlier, it lost $3.3 million, or $0.14 a share. Cash flow was $12.1 million, or $0.51 a share, in the latest quarter, up 58.9% from $7.6 million, or $0.32 a share. Major expects to see a continued rebound during the rest of 2010. Gold prices are near all-time highs, base-metal prices are strengthening, and many mining companies have raised new funds for exploration....

BIRCHCLIFF ENERGY $9.60 (Toronto symbol BIR; SI Rating: Speculative) (403-261-6401; www.birchcliffenergy.com; Units outstanding: 124.8 million; Market cap: $1.2 billion) develops, produces and explores for oil and natural gas, mainly in the Peace River Arch area near the Alberta/B.C. border. In the three months ended June 30, 2010, Birchcliff’s production rose 9.3%, to 12,357 barrels of oil equivalent per day (this measurement includes natural gas) from 11,313 barrels a year earlier. Cash flow per share rose 5.6%, to $0.19 from $0.18. Birchcliff will now spend $227.2 million on exploration and development this year. It will fund these activities from its cash flow, as well as with debt. Currently, the company’s debt of $236 million is just 19.7% of its $1.2 billion market cap, so it can easily borrow more funds....

SYMANTEC CORP., $12.97, Nasdaq symbol SYMC, reported earnings that matched the consensus estimate this week. However, weaker-than-expected revenue caused the stock to fall 14%. In its first quarter, which ended July 2, 2010, the software firm earned $284 million. That’s up 2.5% from $277 million a year earlier. Earnings per share rose 6.1%, to $0.35 from $0.33, on fewer shares outstanding. These figures exclude non-recurring items, such as costs to integrate acquisitions and writedowns of buildings Symantec plans to sell. Revenue was flat, at $1.43 billion. The company gets half of its revenue from international customers, so the higher U.S. dollar hurt the contribution of its overseas businesses. Without the negative impact of foreign-exchange rates, revenue would have risen 2%....

ACI WORLDWIDE INC. $19.40, symbol ACIW on Nasdaq, makes software and provides services that help its clients process transactions that involve credit cards, debit cards, automated-teller machines, smart cards, point-of-sale terminals and inter-bank payments. The company serves more than 800 clients in 88 countries, including many of the world’s largest financial institutions. ACI’s shares rose over 5% yesterday after the company reported improved results in the latest quarter....

SYMANTEC CORP. $14.59 (Nasdaq symbol SYMC; SI Rating: Average) (1-408-517-8000; www.symantec.com; Shares outstanding: 798.9 million; Market cap: $11.7 billion; No dividends paid) has signed a multi-year extension of its agreement with Hewlett-Packard to distribute its Norton Internet Security software. Norton Internet Security is a set of programs that fight hackers, viruses and other online threats. Under the deal, Hewlett-Packard will continue to preinstall a 60-day free trial subscription to Norton Internet Security on all of its personal computers, laptops and netbooks. Users can then buy a subscription to Norton Internet Security for $54.99 a year. Deals like this are very important for software sellers like Symantec. That’s because many consumers like the convenience of buying preinstalled programs right from their computers....

PLEASE NOTE: Our next Hotline will go out on Friday, July 9, 2010. ADOBE SYSTEMS INC., $29.85, Nasdaq symbol ADBE, reported better-than-expected earnings and revenue this week. Despite the improved results, the stock fell 14%. That’s partly because the company is spending more to market new products, such as Creative Suite 5, the latest version of its graphic-design software....

PLEASE NOTE: Our next Hotline will go out on Friday, July 9, 2010. AMAZON.COM INC., $121, symbol AMZN on Nasdaq, has dropped the price of its Kindle electronic-book reader by 27%, to $189 from $259 (all amounts in U.S. dollars). The move came after Barnes & Noble dropped the price of its Nook e-book reader to $199 and introduced a Wi-Fi only version for $149. The Wi-Fi version can only download e-books through private Wi-Fi networks, in Barnes & Noble stores and in places where AT&T offers Wi-Fi service. In contrast, the more expensive Nook comes with an unlimited 3G cellular Internet link for downloads....

ADOBE SYSTEMS INC. $32.44 (Nasdaq symbol ADBE; SI Rating: Average) (408-536-6000; www.adobe.com; Shares outstanding: 526.4 million; Market cap: $17.1 billion) makes software that lets computer users create, edit and share documents in the popular PDF format. As well, graphic designers use Adobe’s software to create print publications and web pages. The company also makes Adobe Flash, which lets web site developers make web pages more interactive by adding animation and video. Computer users can download Adobe’s Flash Player viewer for free. In its first quarter, which ended March 5, 2010, Adobe earned $211.7 million, or $0.40 a share. That’s down 10.6% from $236.8 million, or $0.45 a share, a year earlier. These figures exclude several unusual items, including costs related to Adobe’s recent $1.6-billion purchase of Omniture Inc., which makes software that measures and analyzes web-site traffic....

GENERAL MILLS INC., $70.48, New York symbol GIS, fell 3.5% this week, even though the company reported better-than-expected earnings and sales in its latest quarter. General Mills is the second-largest cereal maker in the U.S., after Kellogg. It also makes yogurt, baking mixes and canned and frozen vegetables, among other foods. In the three months ended February 28, 2010, General Mills’ sales rose 2.6%, to $3.63 billion from $3.54 billion a year earlier. That beat the consensus sales estimate of $3.62 billion....