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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

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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 – 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.

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