Hewlett-Packard, technology giant, is releasing a new photo printer today based on a new technology for inkjet printers which will significantly increase speed and decrease printing costs. The new photo printer will deliver the printed photo within 14 seconds compared with current 30 seconds. The company has also announced a slew of new digital products.

Celanese, manufacturer of chemicals and intermediates, projected 2Q adjusted earnings at the ‘high end’ of its outlook from 39 to 44 cents a share based on strong fundamentals. The company sees 2005 earnings between $1.64 and $1.69.

Halifax, information technology services provider, posted 4Q net loss of 16 cents per share compared with a profit of $1.24 a share last year.

DreamWorks Animation, media company, announced preliminary 2Q loss of 7 to 9 cents a share compared with earlier forecast of ‘no profit’ citing an increase in return reserves for its 2004 titles. The company lowered 2005 earnings to 80 to 90 cents per share from previous $1 to $1.25 a share.

Infocrossing, provider of business servicing, cut its 2Q earnings outlook to a penny per share down from an earlier forecast of 11 cents per share citing lower usage-based billings and delays in receipt of new contracts. The company withdrew its 2005 outlook.

Komag, thin-film media maker, lifted its 2Q revenue by 20% over the prior quarter on stronger thin-film disk shipments. Analysts expect earnings of 77 cents per share.

Helen of Troy, consumer products designer and developer, reported 1Q earnings decline to 33 cents a share from 44 cents a year ago on lower-than expected sales missing expectations of 39 cents a share. The company reiterated full-year earnings of $2.50 to $2.60 a share.

Mylan, pharmaceutical producer, reported preliminary 1Q net income of 14 to 16 cents a share. The company backed its 2006 and 2007 adjusted earnings outlook.

LG Philips, flat screen maker, said its 2Q net income plunged 94% on weaker prices for LCDs but compared with the1Q when it posted a loss of $76 million, swung to a profit.

Posco, steelmaker, reported 38% profit increase for the second quarter on higher steel prices.

Pilgrim’s Pride, chicken products maker, raised its 3Q earnings outlook to the range of $1.17 to $1.22 a share vs. previously announced 81 cents to $1 per share. The lifted expectations are due to better results in U.S. and Mexico chicken operations.

ECONOMIC NEWS

No major economic data is scheduled for release Monday.

International Trade Balance Data, or the difference between imports and exports of both tangible goods and services, is scheduled to be released Wednesday. Economists see trade difference for May at $57 billion, level with the previous April’s reading, when the nation’s trade gap increased to $57 million, or a billion less than expected. Exports in April soared 4.1% to $163.4 billion, while exports grew by 3% to $106.4 billion.

Also on Wednesday, the weekly Petroleum inventory data for the week ended, is scheduled to be released.

Consumer Price index reading for June is due on Thursday. Analysts forecast CPI to rise 0.3% in June. Excluding food and energy, the measure is seen to have risen by 0.2%. CPI for May showed a 0.1% decrease vs. expectations of a 0.1% positive growth. The May CPI reading showed the first downward shift in 10 months. The core CPI data, excluding food and energy, marked a 0.1% growth against expectations of a 0.2% growth.

The customary Jobless Claims data is slated to be released Thursday. Analysts expect Jobless Claims for the week ended July 9th to stay inchanged at 319,000.

Retail sales for the month of June are expected to have advanced by 0.9%. Excluding auto, analysts see 0.5% growth in retail sales. The reading is expected on Thursday.

Business Inventory data to be released on Friday is forecasted to mark a growth of 0.4% in May.

Producer Price, which is to be released on Friday, is expected to advance by 0.5% for June. Producer Prices in May fell 0.6%, the decline coming about mainly due to a 3.5% drop in energy prices. Excluding the volatile components, namely food and energy, the core Producer Price index edged up 0.1% for the month.