Latest news for Delek Group (OTC:DELKY) Stock

Delek Group Ltd operates in the oil and natural gas exploration, development, production and marketing sector in Israel and abroad. through investees. The operating segments of the company are, 1) Energy in Israel segment includes the development, production and sale of natural gas in the existing oil assets of the Partnership, and oil and natural gas exploration in the Mediterranean Sea, 2) the Foreign energy segment includes projects of the UK continental shelf in the North sea region through Ithaca Energy plc which is controlled indirectly by the company and 3) additional operations. The company operates primarily in Israel and North Sea region.

Oil Price Photo by William Potter on Shutterstock

Equities

Large Cap

News

Media

DELKY

NY State pension fund restricts investments in 8 oil and gas companies, including Exxon, due to climate risk. 

NY Pension Fund Prioritizes Climate Over Big Oil Profits: Restricts Investments In 8 Companies, Including ExxonMobil

DELEK GROUP LTD UNSP/ADR by Delek Group Ltd.

Delek Group Ltd

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) said on Friday that customers who purchase or lease a new Model X or Model S in the U.S. are eligible for free supercharging during their ownership of the vehicle, an offer aimed at increasing demand for the company&#8217;s expensive car offerings.
What Happened: The offer also applies to Model S and X purchases in Canada, Puerto Rico, Europe, and the Middle East, the company said in a post on social media platform X, formerly Twitter.
Model S and X are Tesla&#8217;s pricier car offerings. While the Model S starts at $79,990 in the U.S., the Model X starts at $84,990. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Model S &amp; X come with free Supercharging Applies to orders in the US, Canada, Puerto Rico + Europe &amp; Middle East <a href="https://t.co/3PuA84aPbD">pic.twitter.com/3PuA84aPbD</a>
&mdash; Tesla (@Tesla) <a href="https://twitter.com/Tesla/status/1887885383691636860?ref_src=twsrc%5Etfw">February 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The new offer comes on the heels of data that the American EV giant sold <a href="https://www.benzinga.com/tech/25/02/43556649/tesla-drops-1-5-premarket-after-sales-of-china-made-evs-in-january-drop-11-5-yoy">63,238 China-made vehicles in January</a>, marking a dip of 11.5% from the corresponding month of 2024.
Furthermore, Tesla <a href="https://www.benzinga.com/tech/25/01/43183608/tesla-launches-refreshed-model-y-in-us-with-25-price-hike-full-self-driving-included">launched a refreshed version</a> of its bestselling Model Y SUV in January. Company CEO Elon Musk warned in January that the company will be retooling factories for the start of production of its new and refreshed Model Y in the first quarter and the change will result in <a href="https://www.benzinga.com/25/01/43328898/elon-musk-warns-teslas-new-model-y-will-result-in-several-weeks-of-lost-production-for-ev-giant-in-q1" target="_blank" rel="noreferrer noopener">several weeks of lost production</a>. Deliveries of the facelifted vehicle are slated to start in March.
Why It Matters: Tesla reported global&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on" target="_blank" rel="noreferrer noopener">deliveries of 1.79 million</a>&nbsp;vehicles in 2024, down from full-year deliveries of 1.81 million in 2023, marking a fall in vehicle deliveries for the first time in over a decade.
While Tesla said in its 2024 earnings report that the company expects its vehicle business to &#8220;return to growth&#8221; in 2025, Musk did not reiterate the 20-30% delivery growth expectation that he put forth in October. 
However, the company said last month that it expects to start production of new models, <a href="https://www.benzinga.com/25/01/43375903/tesla-researcher-estimates-drop-in-ev-deliveries-for-2025-despite-promise-of-new-models">including more affordable ones</a>, in the first half of 2025, likely increasing its total addressable market. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/25/02/43520687/byd-overtakes-tesla-in-uk-after-elon-musk-led-ev-makers-new-vehicle-registrations-drop-in-january" target="_blank" rel="noreferrer noopener">Tesla Launches Limited-Time Car Insurance Subsidy for Model 3 In China, Researcher Expects It To Have ‘Limited Impact' On EV Maker's Delivery Hardships In Q1</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

TSLA

Tesla Launches Free Supercharging Offer On Model S, X In US To Battle Drop In Vehicle Deliveries

Elon Musk, the CEO of Tesla Inc. and SpaceX, has been advocating for a 120-hour workweek for his <a href="https://www.benzinga.com/topic/doge">Department of Government Efficiency</a> (DOGE) team. However, a Stanford researcher has challenged this approach, citing its potential &#8220;negative health outcomes.&#8221;
What Happened: Musk has been promoting a grueling work schedule for his DOGE team, which is tasked with implementing cost-cutting measures across the federal government. This approach, however, has been criticized by Alison T. Wynn, a senior research scholar at the Stanford VMware Women's Leadership Innovation Lab in an <a href="https://www.msnbc.com/opinion/msnbc-opinion/elon-musk-doge-office-120-hours-productivity-trap-rcna191270">opinion</a> post for MSNBC.
&#8220;There's just one problem: Musk and his team are wrong,&#8221; she said.
Wynn argued that the belief that long hours equate to increased productivity is &#8220;not only outdated but unfounded.&#8221;
See Also: <a href="https://www.benzinga.com/25/02/43569802/wall-street-drops-on-tariffs-threat-dollar-rises-uber-rockets-on-ackmans-tweet-whats-driving-markets-friday">Wall Street Drops On Tariffs Threat, Dollar Rises, Uber Rockets On Ackman&#8217;s Tweet: What&#8217;s Driving Markets Friday?</a>
&#8220;Instead, research clearly shows that working long hours doesn't make you a better employee. In fact, it can lead employees to struggle or even make catastrophic mistakes. This is concerning no matter what job you're doing, but it may be of special concern for the Musk team handling sensitive data systems that touch the lives and livelihoods of millions of Americans.&#8221;
Wynn also highlighted the adverse effects of this work culture on employees&#8217; physical and emotional well-being. She referenced studies that showed increased stress and work-life conflict due to rising time demands, which&nbsp;can lead to high turnover, dissatisfaction, and negative health outcomes.
Contrary to the belief that long hours are necessary for productivity, Wynn cited a&nbsp;2024 study published in Nature,&nbsp;which found that employees working&nbsp;from home two days per&nbsp;week were&nbsp;just as productive as those&nbsp;working&nbsp;full-time in the office.&nbsp;
Why It Matters: Musk&#8217;s DOGE initiative has been a subject of intense scrutiny and debate. The project, which aims to cut $2 trillion from the federal budget by 2026, has been met with skepticism by some economists.
Former White House Council of Economic Advisers Chair Jason Furman <a href="https://www.benzinga.com/news/25/02/43426165/elon-musks-daily-4-billion-doge-target-will-lead-to-30-cut-in-federal-spending-says-economist-jason-furman">pointed out potential discrepancies</a> in Musk&#8217;s claims regarding federal spending reductions and the proposed fiscal targets.
Despite the criticism, Musk&#8217;s initiative has also received support.&nbsp;Alex Karp, the CEO of&nbsp;Palantir Technologies Inc., has expressed enthusiasm for the DOGE initiative,&nbsp;<a href="https://www.benzinga.com/25/02/43487682/palantir-ceo-hails-elon-musks-doge-initiative-anticipates-positive-outcome">anticipating a positive outcome</a>&nbsp;for his company.
However, not everyone is on board with Musk&#8217;s approach.&nbsp;Reid Hoffman, the co-founder of LinkedIn and former COO of PayPal, has criticized Musk&#8217;s rapid cutting of government programs on behalf of his Department of Government Efficiency,&nbsp;stating that there&#8217;s a reason the <a href="https://www.benzinga.com/politics/25/02/43548753/reid-hoffman-rebuffs-elon-musks-doge-theres-a-reason-the-government-doesnt-work-like-companies">government doesn&#8217;t work like companies</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43482587/elon-musk-appointed-as-special-government-employee-amid-doge-department-push-cant-do-anyth" target="_blank" rel="noreferrer noopener">Elon Musk Appointed As ‘Special Government Employee' Amid DOGE Department Push: ‘Can't Do Anything Without Our Approval,' Says Trump</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

General

Elon Musk's 120-Hour Workweek Call For DOGE Team 'Not Only Outdated But Unfounded,' Says Stanford Researcher

President Trump's push for tariffs with America's trading partners, only about a week old, is already having a big impact on the financial markets.
On February 1, President Trump said he was triggering the International Emergency Economic Powers Act due to "the extraordinary threat posed by illegal aliens and drugs, including deadly fentanyl."
Until the crisis passes, President Trump slapped a 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China. Energy resources from Canada will have a lower 10% tariff.
Some of those tariffs have been suspended after negotiations between the US and Mexico, though it's unclear how long that will last, as neither country agreed to anything they weren't already doing. In the meantime, the expanded tariff skirmishes are having a big effect on the US stock market.
But here are four market sectors that are virtually "tariff-proof."
According to<a href="https://www.jpmorgan.com/markets/etrading-trends?source=cib_de_tr_etrading980225"> JPMorgan Chase's 2025 E-Trading Insights</a>, most traders worldwide say that tariffs (and inflation) are the most significant market impactors in 2025.
"Tariffs aren't simply random taxes on imports—they're a political and monetary strategy," said James Francis, CEO at Paradigm Asset Management. "Right now, the Trump management is slapping price lists on Chinese items, elevating prices on the whole lot from metallic to semiconductors."
What does this suggest for the inventory marketplace? Volatility, for starters.&nbsp;
"When price lists pass up, corporations that depend on imports see their prices rise," Francis noted. "Some companies skip the prices directly to consumers, even as others take the hit of their earnings margins. Either way, it creates uncertainty, and buyers tend to get nervous."
[<a href="https://www.benzinga.com/premium/ideas/benzinga-edge/?utm_source=WebRD-0210&amp;el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}">The Simplest Way to Find Stocks With Actionable Setups</a>]
<h2 class="wp-block-heading">Four "Immune" Sectors</h2>
On the upside, some industries have historically been immune to tariffs and trade wars. Here's a snapshot of three sectors that should be safe right now.
Select technology plays. &#8220;To avoid tariff turbulence, focus on industries that don&#8217;t import a lot of goods from abroad," said Rich Smith, a contributing analyst at The Motley Fool.
For example, the technology sector may be one walled-off sector.
"Software code can be created without the importation of significant quantities of widgets from abroad, and so should be insulated from tariffs risk," Smith notes. "Simultaneously, tech stocks could be at risk from retaliatory measures by countries responding to American tariffs. For example, China reportedly responds to US tariffs by investigating Alphabet over ostensible antimonopoly concerns."
Microsoft (MSFT) could be one sector stock that offers some tariff insurance. "Microsoft makes its cash from software programs, cloud computing, and company offerings," Francis said. "They don't depend as much on imported items, making the company surprisingly secure from change disruptions."
Utilities. Another relatively safe sector is utilities, particularly energy utilities that produce power from American-sourced oil and gas.
"Bargains might be easier to find here than in the red-hot tech sector," Smith added. "Investors might look at something like Dominion Energy (D), for example. At less than 21 times earnings, it&#8217;s cheaper than most S&amp;P stocks, and Dominion pays a strong 4.7% dividend yield. Wall Street analysts have the stock pegged for a 23% earnings growth next year, which implies the valuation might be cheap. And Dominion&#8217;s dividend yield is about three times the average yield on the S&amp;P to boot."
NextEra Energy (NEE) could be a safe play. "As a primary software issuer focusing on renewable energy, NextEra doesn't rely upon overseas imports," Francis said. "People will continually want electricity, making this a solid alternative no matter price lists."
Auto stocks. Select global auto markets may be safe, too. Automakers who don't manufacture in North America will see some upside. "That includes Chinese auto manufacturers who are increasingly exporting vehicles to other countries," said Tony Pelli, practice director at BSI Americas in London, UK.&nbsp;&nbsp;
One prison stock. Private prisons seem to be favored by the Trump administration, as they fit the "law and order" vibe from 1600 Pennsylvania Avenue and are cheaper to work with than public prisons.
"Right now, the best stock to invest in that appears to be immune to tariffs is GEO Group (GEO)," said Alejandro Zambrano, chief market strategist at the online trading services provider ThinkMarkets. "The private prison company draws most of its revenue from the USA, and Trump's deportation plans have not faced criticism internally or externally. It's also a play we have been bullish on since before the election."
<h2 class="wp-block-heading">Keep Your Eyes on the Ball – and Not On Tariffs</h2>
No doubt, tariffs are shaking things up on Wall Street; however, that doesn't mean investors are helpless.
"By specializing in industries which are much less uncovered to tariff change wars—like technology, utilities, and healthcare—you may decrease hazard and preserve your portfolio steady," Francis noted.
Trade guidelines might also change, but that's okay, too. "Keep your eye on long-time period growth, diversify wisely, and don't permit short-time period headlines dictate your decisions," Francis advised.
Every market day, Benzinga Edge readers get a stock pick setting up for an interesting technical move. Today, you can get access to the stocks making new breakouts, breakdowns, and other tradeable setups, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge/?utm_source=WebRD-0210&amp;el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}">Right Here.</a>
Image via Dall-E 3

Opinion

Trading Ideas

4 "Tariff-Proof" Sectors to Buy for 2025

American shoppers and small businesses are feeling the immediate impact of new tariffs imposed by President Donald Trump, which removed the long-standing <a href="https://www.benzinga.com/news/global/25/02/43423781/trumps-trade-tariffs-to-close-e-commerce-loophole-favoring-chinese-online-retailers">$800 duty-free exemption</a> for low-cost imports from China. A few days after the change was implemented, customers who ordered from websites like Shein, Temu, and I.Am.Gia started receiving unexpected import duty notices from shipping firms, including United Parcel Service (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) and DHL, often totaling nearly as much as the items themselves.
<h2 class="wp-block-heading">Surprise Fees on Low-Cost Orders</h2>
Many shoppers who were used to buying inexpensive clothing and household items from Chinese retailers are now being asked to pay additional duties and handling fees before receiving their packages. Some of these charges range from $20 to over $50, with DHL and UPS requiring payment within days or threatening to return the packages to the sender.
Don't Miss:
<ul>
<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a></li>
<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
</ul>
For instance, <a href="https://www.reuters.com/business/retail-consumer/trumps-tariffs-china-bite-us-bargain-hunting-online-shoppers-2025-02-06/">Reuters reported</a> that a college student who ordered a $65 top from Australian brand I.Am.Gia was shocked to find a $45 import duty notice from DHL. Her father initially suspected it was a scam before realizing the fees were real. Another shopper was told to pay nearly $40 in additional fees for a $197 Shein order. Many others have shared similar experiences on social media, according to news outlets.
<h2 class="wp-block-heading">Small Businesses Hit Hard</h2>
<a href="https://www.wired.com/story/tariffs-china-prices-fees-shein-temu/">According to Wired</a>, the tariffs have also created chaos for small businesses that rely on Chinese suppliers or ship products across borders. Leslie Brown, who runs a secondhand clothing business in Canada, said she's stuck with $30,000 worth of inventory she can't move across the U.S. border due to the sudden tariff hike. Similarly, Miguel Schraeder, who sells board game accessories, saw his U.S. customers slapped with unexpected import duties, sometimes exceeding the value of the products themselves.
Trending: Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs-nancy-pelosi">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000</a>
Some small business owners have temporarily halted U.S. sales, unable to absorb or pass on the costs to customers. Meanwhile, logistics carriers like DHL Hong Kong and the Hongkong Post have announced they will stop accepting individual packages bound for the U.S. due to the new trade rules, according to media reports.&nbsp;
<h2 class="wp-block-heading">Shipping Companies Slow to Clarify Policies</h2>
Because of the abrupt enforcement of the tariffs, major couriers have been slow to provide clear policies on fees and procedures. The <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43504848/usps-resumes-accepting-china-shipments-amid-new-tariffs">U.S. Postal Service briefly suspended</a> all package deliveries from China and Hong Kong before reversing course. UPS has warned of potential delays and removed its service guarantee for packages coming from China, while FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) has not made a public statement on new fees or delays.
Some retailers, like Qwertykeys, have paused their shipments altogether, as DHL is now requiring a 50% tariff deposit plus a $21 processing fee per package.
Read Next:
<ul>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
</ul>

U.S. Shoppers And Businesses Shocked By High UPS And DHL Import Duty Fees As China Tariffs Kick In

Norfolk Southern (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) has outperformed the market over the past 20 years by 4.23% on an annualized basis producing an average annual return of 12.57%. Currently, Norfolk Southern has a market capitalization of $56.38 billion. 
Buying $1000 In NSC: If an investor had bought $1000 of NSC stock 20 years ago, it would be worth $10,590.99 today based on a price of $249.10 for NSC at the time of writing.
<h3>Norfolk Southern's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738971916_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 20 Years Ago, You Would Have This Much Today

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 10 years by 1.55% on an annualized basis producing an average annual return of 12.69%. Currently, Commercial Metals has a market capitalization of $5.64 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 10 years ago, it would be worth $3,418.04 today based on a price of $49.63 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738971010_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Commercial Metals 10 Years Ago Would Be Worth This Much Today

Barrington Research analyst Gary Prestopino maintains DHI Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHX#NYSE">DHX</a>) with a Outperform and maintains $7 price target.

Price Target

Analyst Ratings

Barrington Research Maintains Outperform on DHI Group, Maintains $7 Price Target

Macquarie analyst Chad Beynon maintains Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) with a Neutral and raises the price target from $248 to $260.

Macquarie Maintains Neutral on Hilton Worldwide Holdings, Raises Price Target to $260

TD Securities analyst Vince Valentini maintains BCE (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BCE#TSX">BCE</a>) with a Hold and raises the price target from C$31 to C$33.

TSX:BCE

TD Securities Maintains Hold on BCE, Raises Price Target to C$33

TD Securities analyst Vince Valentini maintains Thomson Reuters (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TRI#TSX">TRI</a>) with a Hold and raises the price target from C$250 to C$260.

TSX:TRI

TD Securities Maintains Hold on Thomson Reuters, Raises Price Target to C$260

Citigroup analyst Ronald Josey maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and lowers the price target from $275 to $273.

AMZN

Citigroup Maintains Buy on Amazon.com, Lowers Price Target to $273

Citigroup analyst David Lebowitz initiates coverage on Viking Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) with a Neutral rating and announces Price Target of $38.

Initiation

VKTX

Citigroup Initiates Coverage On Viking Therapeutics with Neutral Rating, Announces Price Target of $38

Citigroup analyst David Lebowitz initiates coverage on Cytokinetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYTK#NASDAQ">CYTK</a>) with a Buy rating and announces Price Target of $86.

CYTK

Citigroup Initiates Coverage On Cytokinetics with Buy Rating, Announces Price Target of $86

Citigroup analyst Andrew Kaplowitz initiates coverage on Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) with a Buy rating and announces Price Target of $795.

Citigroup Initiates Coverage On Parker Hannifin with Buy Rating, Announces Price Target of $795

Maxim Group analyst Naz Rahman maintains Viking Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) with a Buy and lowers the price target from $120 to $70.

Maxim Group Maintains Buy on Viking Therapeutics, Lowers Price Target to $70

Maxim Group analyst Tom Forte maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and raises the price target from $260 to $280.

Maxim Group Maintains Buy on Amazon.com, Raises Price Target to $280

Lake Street analyst Jaeson Schmidt maintains Lantronix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LTRX#NASDAQ">LTRX</a>) with a Buy and lowers the price target from $6 to $5.

LTRX

Lake Street Maintains Buy on Lantronix, Lowers Price Target to $5

Lake Street analyst Eric Martinuzzi maintains QuinStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNST#NASDAQ">QNST</a>) with a Hold and raises the price target from $25 to $27.

QNST

Lake Street Maintains Hold on QuinStreet, Raises Price Target to $27

Lake Street analyst Ben Klieve maintains Bioceres Crop Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIOX#NASDAQ">BIOX</a>) with a Buy and lowers the price target from $13 to $8.

BIOX

Lake Street Maintains Buy on Bioceres Crop Solutions, Lowers Price Target to $8

Loop Capital analyst Garik Shmois maintains Advanced Drainage Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMS#NYSE">WMS</a>) with a Buy and lowers the price target from $170 to $160.

Loop Capital Maintains Buy on Advanced Drainage Systems, Lowers Price Target to $160

Delek Group

The New York State Common Retirement Fund plans to&nbsp;<a target="_blank" href="https://www.osc.ny.gov/press/releases/2024/02/ny-common-retirement-fund-announces-new-measures-protect-state-pension-fund-climate-risk-and-invest" rel="noreferrer noopener">restrict&nbsp;</a>its investments in eight integrated oil and gas companies, including&nbsp;Exxon Mobil Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>).



The move reflects New York Comptroller Thomas DiNapoli&#8217;s review of the transition readiness of energy sector investments that face significant climate risk.



DiNapoli said, &#8220;Climate change is an increasingly urgent risk facing all investors, and I am determined to protect the state&#8217;s pension fund by keeping it at the forefront of efforts to mitigate risks to our investments. This reduces our fund&#8217;s exposure to fossil fuels.&#8221;&nbsp;



&#8220;Consistent with my fiduciary duty to maximize investment returns for the benefit of our members and retirees, these actions should help accomplish the goals of our Climate Action Plan.&#8221;



Also Read: <a href="https://www.benzinga.com//node/37151071">Warren Buffett&#8217;s Apple Appetite Waning? Berkshire Trims Top Holding, Ditches Big Homebuilder, Bulks Up On A Media Firm: What Investors Should Know</a>



The fund plans to divest its corporate bonds and actively manage public equity holdings in eight integrated oil and gas companies that are determined to be not transition-ready.&nbsp;



Apart from Exxon, the companies to be divested and restricted in the coming months are&nbsp;Delek Group&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/DELKY#OTC">DELKY</a>),&nbsp;Guanghui Energy Company Ltd.,&nbsp;Echo Energy PLC,&nbsp;IOG PLC,&nbsp;Oil and Natural Gas Corporation Ltd&nbsp;and&nbsp;Dana Gas Co and Unit Corp.&nbsp;



As of Dec. 31, 2023, the total value of these holdings is around $26.8 million.



The fund &#8220;will continue to hold Exxon and the others that are restricted in its passive index holdings at this time,&#8221; a spokesman for DiNapoli said to Reuters.



As per the report, spokesman Matthew Sweeney said that while the fund will divest about $25 million worth of Exxon shares, other Exxon holdings total about $500 million.



Sweeney further said, &#8220;The passive strategy is fundamental to the Fund and has been successful. The review determined that removing it from the passive index would go against fiduciary duty at this time.&#8221;&nbsp;



Earlier in 2023, the Fund updated its assessments of shale oil and gas, oil sands, and coal companies, leading to restrictions on investment in around 50 firms that it determined failed to demonstrate transition readiness, including six new coal companies and four new shale oil and gas companies.



Photo by William Potter on Shutterstock

Comments

Delek Group

News

Latest news for Delek Group (OTC:DELKY) Stock

Friday, February 16, 2024

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga