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Market Movers Today: Rovio Entertainment Oyj (ROVVF), Nektar Therapeutics (NKTR), J C Penney Company Inc (JCP), Gap Inc (GPS), and More

Rovio Entertainment Oyj (OTCMKTS:ROVVF) (MarketWatch)
Shares in Rovio Entertainment Ltd. (ROVIO.HE) sank further Friday after it warned that competition has intensified while the performance of its new games titles has fallen short of expectations. The Finnish developer behind the “Angry Birds” mobile-gaming franchise last week warned that its revenue growth is losing steam as it struggles to attract and retain new players. Following that announcement the stock lost half of its value. In a separate announcement Friday, Rovio said the head of its games business, Wilhelm Taht, will leave the company immediately “due to personal reasons.” Chief Executive Kati Levoranta will act as head of games for the time being, the company said.

Nektar Therapeutics (NASDAQ:NKTR) (The Motley Fool)
What happened: In response to reporting expectation-thumping results, shares of Nektar Therapeutics (NASDAQ:NKTR), a biotech focused on cancer, auto-immune disease, and chronic pain, jumped 18% as of 11:20 a.m. EST on Friday. So what: Here’s a look at the headline numbers from the quarter: Revenue of $95.5 million crushed Wall Street’s expectation of $31.5 million. Even if you subtract the $60 million in revenue related to a new sublicense agreement, the total would have still come in ahead of the consensus estimate. Net loss was $0.21 per share. That was far lower than the $0.38 loss that analysts had expected.

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J C Penney Company Inc (NYSE:JCP) (Reuters)
(Reuters) – J.C. Penney Co Inc (JCP.N) forecast broadly lower-than-expected full-year profit on Friday as the department store operator grapples with weak demand for its clothes and fierce online competition, sending its stock down 10 percent. The downbeat forecast, on top of fourth-quarter same-store sales below Wall Street’s estimates, surprised investors after the retailer said in January it had seen strong demand for home, beauty products and jewelry during the holiday shopping season.

Gap Inc (NYSE:GPS) (CNBC)
Gap – Gap reported adjusted quarterly profit of 61 cents per share, 3 cents a share above estimates. The clothing retailer’s revenue also topped forecasts. The parent of the Gap, Old Navy, and Banana Republic chains also saw comparable-store sales rise by 5 percent. Gap also issued stronger-than-expected 2018 guidance and raised its quarterly dividend by 5 percent.

Zosano Pharma Corp (NASDAQ:ZSAN) (Benzinga)
Zosano Pharma Corp shares climbed 52.4 percent to $8.32 as the company reported the Issuance of a new US patent covering M207 as an acute treatment for migraine.

Foot Locker, Inc. (NYSE:FL) (MarketWatch)
Foot Locker Inc. shares plummeted more than 14% in Friday trading after weaker-than-expected quarterly results, but analysts say now’s the time to buy the stock. Foot Locker FL, -14.30% Chief Executive Richard Johnson remained upbeat about the future on the Friday morning earnings call. While he wouldn’t offer any details about strategies for improving the business, he outlined some of the planned initiatives, such as expansion into Asia. And he highlighted the $15 million stake the company took in the luxury women’s active apparel company Carbon 38 during the fourth quarter.

Ambarella Inc (NASDAQ:AMBA) (The Motley Fool)
What happened: Shares of Ambarella Inc. (NASDAQ:AMBA) are up 13.5% as of 12:30 p.m. EST Friday after the video-processing chip company announced better-than-expected fiscal fourth-quarter results. Ambarella’s quarterly revenue declined 19.3% year over year to $70.6 million. That translated to adjusted net income of $15.8 million, or $0.45 per share, down from $0.92 per share in the same year-ago period. Of course, this might not sound encouraging, but the midpoint of Ambarella’s latest guidance — provided in late November — called for revenue to fall 20%, and most investors were modeling significantly lower adjusted earnings of $0.37 per share.

JD.Com Inc(ADR) (NASDAQ:JD) (Reuters)
(Reuters) – JD.com Inc, China’s second largest e-commerce firm, saw its stock plunge in pre-market trade on Friday as quarterly profit was hit by competitive pressure and heavy investments during its top earnings season. JD.com’s U.S.-listed stock was down 10 percent in pre-market trading. Despite posting better-than-expected revenue for the quarter, net income was down 17.7 percent at 449 million versus a mean analyst estimate of 666 million according to Thomson Reuters I/B/E/S.

McDonald’s Corporation (NYSE:MCD) (CNBC)
McDonald’s new value offering isn’t off to a good start, according to one Wall Street firm. RBC Capital Market reduced its sales and earnings estimates for McDonald’s shares. The company launched its $1, $2 and $3 menu in January. “We significantly lower our US SSS [same-store sales] expectations due to deteriorating industry conditions and a disappointing early sales impact from the $1, $2, $3 value menu,” analyst David Palmer wrote in a note to clients Friday. “While we are cautious on MCD in the near term, we believe the chain has ample opportunities to course correct and re-accelerate SSS growth in the coming quarters,” he wrote. McDonald’s shares dropped 4.2 percent Friday after the report.

Atlas Financial Holdings Inc (NASDAQ:AFH) (Benzinga)
Atlas Financial Holdings Inc shares dipped 41.5 percent to $11.00 after the company issued weak FY 2018 forecast.