Shares of Nexen Inc (NYSE: NXY) rose about 9.5% after the company announced the resignation of its Chief Executive Marvin Romanow. Nexen's Chief Financial Officer Kevin Reinhart will serve as interim CEO. Gary Nieuwenburg, Nexen Canada's executive vice president, is also leaving the company effective immediately.
Shares of Statoil ASA (NYSE: STO) dropped about 0.15% after the company announced its plans to lift investments in research and development by 27% to NOK2.8 billion ($465 million) in 2012. Statoil is raising its R&D budget to NOK2.8 billion from NOK2.3 billion.
Royal Bank of Scotland PLC (NYSE: RBS) cut its 2012 forecast for all metals, aside from gold. RBS lowered its aluminum view by 12.5% to $2,315/ton, its copper outlook by 15.6% to $8,375 a metric ton, and its lead view by 13.6% to $2,250/ton. The banl also lowered its nickel outlook by 12.7% to $21,125/ton, and its zinc forecast by 13.6% to $2,100/ton. RBS cut its silver forecast by 13.5% to $33/oz, its palladium view by 11.1% to $800/oz, and its platinum forecast by 15.4% to $1,700/oz. The bank maintained its earlier gold outlook for 2012 of $1,750 a troy ounce.
Shares of RTI International Metals Inc (NYSE: RTI) gained about 8.8% after the company announced its plans to acquire Remmele Engineering for $164.5 million. RTI will also assume $18.0 million in Remmele's debt. The deal is likely to close before the end of the first quarter.
Shares of Jones Group Inc (NYSE: JNY) rose about 1.7% after the company lowered its fourth-quarter revenue projections. Jones Group now projects Q4 revenue of $892 to $895 million, versus its earlier forecast of $918 to $961 million. However, analysts were projecting revenue of $940 million. Jones Group expects Q1 revenue of $930 to $955 million, versus analysts' estimates of $1.02 billion.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.