Semiconductors and smartphones will color in the week that lies ahead.

Micron Technology
(Nasdaq: MU) kicks off the new week. Analysts see the memory chip behemoth earning $0.42 a share in its latest quarter. It's a welcome change from the $0.57-per-share deficit it posted a year ago.

(NYSE: T) stores will officially begin selling Apple's (Nasdaq: AAPL) iPhone 4 to walk-in customers. The limited inventory it received for Thursday's launch went to folks who had pre-ordered the smartphone two weeks ago. Both companies have fumbled the launch, but if the long lines are any indication, this is clearly a good problem to have.

Acuity Brands
(NYSE: AYI) and Shaw Communications (NYSE: SJR) are just some of the companies stepping up on hump day to reveal their quarterly results. Wall Street is banking on both companies to post improved bottom lines.

Investment analytics specialist MSCI (NYSE: MXB) checks in. The company behind equity indexing tools is expected to generate net income of $0.31 a share for its latest quarter, just ahead of the $0.28 a share it rang up last year.

Heading into a holiday weekend, with the exchanges closed the following Monday to observe Independence Day, don't expect a whole lot of action on the trading floor. Companies tend to stay away as traders duck out early.

Your best bet for market-moving action may be at the local multiplex. New films this week include The Last Airbender and the latest installment in the Twilight series.

Until next week, I remain,

Rick Munarriz

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Longtime Fool contributor Rick Munarriz recommends windshield wiper fluid when trying to look forward. He does not own shares in any of the companies in this story. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.