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The Oscars and movie stocks

With the Grammy Awards now behind us ("My Humps?" Really? And did I actually see Slayer on the list of winners?), the red-carpet watchers can turn their collective attention to Oscar night, which is now less than two weeks away.

A handful of publicly traded entertainment companies will be in focus as potential beneficiaries of eight and a half pounds of gold-plated honor. This year may be one of the least exciting broadcasts, with clear front-runners already established in the major categories. Forest Whitaker has come a long was from Fast Times at Ridgemont High, with a powerful turn as Idi Amin in The Last King of Scotland, released by Fox Searchlight, a division of News Corp. (NYSE:NWS). Fox Searchlight was also the force behind Little Miss Sunshine, a simple family dramedy holding its own against some major competition and nabbing a Best Picture nod.

As for Best Actress, a Helen Mirren victory seems like a foregone conclusion for her nuanced turn as Queen Elizabeth II in The Queen (also a Best Picture nominee). The Queen was released by Walt Disney's (NYSE:DIS) Miramax division. (Incidentally, the Oscars will air on DIS unit ABC Networks).

Beth Gaston Moon is an analyst with Schaeffer's Investment Research.

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Last updated: May 27, 2012: 06:50 AM

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