Princeton National Continue To Move Higher (BBY, PNBC, RHT, AGEN)

Best Buy Co., Inc. (NYSE:BBY) shares declined 2.99% to $24.03 in the morning hour. Yesterday, the company reported that it has reported a loss in fourth quarter owing to restructuring costs and other charges. Best Buy reported a loss of $1.7 billion, or $4.89 a share, as compared to a year-earlier profit of $651 million, or $1.62 a share. Additionally, the company’s board of directors has authorized payment of a regular quarterly cash dividend of $0.16 per common share. The quarterly dividend is payable on May 10, 2012 to shareholders of record as of the close of business on April 19, 2012.

Princeton National Bancorp, Inc. (NASDAQ:PNBC) stock soared 39.49% to $4.10 in the early hour, extending its yesterday’s gain of over 80%. The company is trading on an above average volume of 557K shares, 40x times its average volume. The 52 week trading range for the company is $0.86 - $7.24. Princeton National is a single-bank holding company, which operates in one business segment conducting a full-service banking and trust business through its subsidiary bank, Citizens First National Bank.

Red Hat, Inc. (NYSE:RHT) stock fell 2.10% to $60.14 in the morning hour. The company had made a new 52 week high at $61.71. Yesterday, the stock had an amazing run up after reporting its fiscal fourth quarter results. The company reported fourth quarter non-GAAP adjusted net income of $0.29 per share, as against $0.26 per share last year. The consensus estimate was for EPS of $0.27.Additionally, the company’s Board of Directors has authorized the repurchase of up to $300 million of Red Hat’s common stock from time to time on the open market or in privately negotiated transactions. The new program begins April 1, 2012, replacing the current repurchase program that will expire on March 31, 2012.

Agenus Inc (NASDAQ:AGEN) shares declined 2.44% to $6.59 in the early hour. The company has made a new 52 week high at $6.85. The company is being covered by analysts at Roth Capital. They set a “buy” rating on the stock.
The company had earlier announced the appointment of Shalini Sharp to its board of directors effective May 11, 2012. Ms. Sharp has served as Vice President and Chief Financial Officer of Agenus since 2006.