Street Wire: BP's Stock Jumps Despite Dividend Talk


BP's (BP) stock rallied as much as 5% at one point during Friday trading, shrugging off remarks by CEO Tony Hayward that the energy giant could suspend its second-quarter dividend payment to quell political criticism of BP's handling of the Gulf oil spill.

BP's stock rose as much as $1.68 to $34.46 in late morning trading on the NYSE (NYX). BP's stock has gained more than 16% in the last two sessions, bringing its market cap back above $100 billion. BP's stocks was trading at about $60 before the Gulf oil spill.