Entertainment stocks mostly up in Q1
Carmike Cinemas leads Showbiz 50 with an 84% gainIt has been an unusually good year so far for entertainment stocks. As of Wednesday's closing bell that signaled the end of the first quarter, 43 of the stocks that make up The Hollywood Reporter Showbiz 50 index were higher in 2010.
Leading was Carmike Cinemas, operator of 244 movie theaters, with a stock gain of 84% in the quarter. At the other end was Blockbuster, which suffered a 62% plunge.
Blockbuster's main competitor, Netflix, saw its stock rise 34% in the quarter. The stock of Blockbuster's second major headache, Coinstar, which operates the Redbox DVD kiosks, rose 17%.
For those in search of a pattern, the giant Internet searchers, Google and Yahoo, underperformed, and movie exhibition and radio -- at least the ones with actively traded stocks -- outperformed.
Entercom Communications cracked the top five with a 68% gain, while radio stocks Cumulus Media gained 49% and Sirius XM was up 45%.
As for movie exhibition beyond Carmike, Imax was up 35%, Cinemark gained 29% and Regal Entertainment was up 23%.
After Carmike, rounding out the Showbiz 50 top five are Live Nation (70%), TiVo (68%), Entercom and Liberty Media (55%).
After Blockbuster, rounding out the bottom five are Google (down 9%), Cablevision Systems (off 6%), Take-Two Interactive Software (down 2%) and Yahoo (off 2%).