BP turns on the charm
The company's CEO travels the world to win back the confidence of oil partners and investors.
That could start to change, as BP launches what one investor calls a "charm offensive" to win back the hearts of the market and partners. We know BP already has the "offensive" part nailed down. What about the charm?
Hayward is flying around the world to tell countries that it's business-as-usual for BP, The Wall Street Journal reports. He's also assuring them that BP won't sell major assets to come up with the money for its U.S. liabilities.
Hayward has visited Russia, a country that provided a third of BP's oil last year, as well as Abu Dhabi and Azerbaijan. He may head to other oil partners, such as Angola, soon. Post continues after video:
In addition to smoothing relations with partners, Hayward is also encouraging countries who are thinking about buying stakes in BP. An official in Libya, for example, has suggested the country's sovereign wealth fund invest in the company, the Journal reported.
That interest helps to build buzz, and BP shares have been on the rise as investors hope for big money coming in.
So this charm offensive is taking place everywhere but the U.S., it seems. Hayward could score big points here by heading to the Gulf, rolling up his sleeves and caring for sick wildlife for a day. Showing that you care and that you're genuinely sorry would go a long way.
More from MSN Top Stocks:
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
4 analysts downgrade the stock the day after a disappointing quarterly report.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.