i am not backing away from schlumberger.yeah, maybe in the days when i used to brush my teeth with jack daniels in the back seat of a 1970 ford fairmont i would have called this one right. but you know what? that was more than 33 years ago. i was so much older then, man. i'm smarter than that now. mea culpa. the passage of health care was not as bad as we thought. it might be soon. but let's learn from my mistake this weekend. both you and me. we've got to profit from the wins, and we've got to learn from the losses. "mad money" will be right back. >> announcer: coming up, radio silence? with advertising money on the rise, cramer's got one company that could have you tuning in profits. and later, whether the dow soars or hits the floor, jim tries to help you stay on steady ground with "am i diversified?" all coming up on "mad money." >>> this just in. news flash. first on cnbc. radio is not dead. that's right. radio is not dead. this industry, this medium of communication that had been written off by just about everyone, inc

watch schlumberger tomorrow. after the close it announced a $1 billion buyout of a private french firm. and that's tonight's "market focus". >> tom: with the interest rate on savings and money mark accounts near historic lows, many people have been looking for higher returns or yields, some are taking their cue from uncle sam whm the government bailed out banks and auto makers it bought prefered stock, which share the features of a common stock along with a bond. usually they bring with them higher dividends. we continue our searching for yield series tonight with our street critique guest, ken winans, president of winans international. joining us from san francisco. welcome to the program. >> thank you, tom, pleasure to be here. >> tom: how does a prefered stock differ from an ordinary common share? >> main difference is the level of the dividend. they're just dramatically higher in the prefered shares than they are in the common stock sisters. >> tom: so does an investor approach a prefered investment like a st

companies like schlumberger and the well drilling business we like a company like ensco, a company thatd benefit if this passes. transocean another driller in deep water and very cheap stock without activity in these new areas, if you get it, it's a plus. >> make no mistake, five to ten years before we see any of this oil coming out, the fact that we're looking at oil prices below $83 a barrel has more to do with what happened with the inventory report. >> john harwood, talk to me about cold state democrats with respect to cap and trade. is john still there, i don't see him? >> yes. >> i know, i'm not saying you, i know the obamas are trying to pick off the republican for cap and trade, i don't believe that is going to be very possible, but the cold state democrats that stand in the way of cap and trade, is it not? >> oh, yes, they have problems with the energy state democrats and mary landrieu and also people like bob byrd and jay rockefeller and others on call. the house energy bill did make some concessions to those cold state democrats and i think you're going to see the same thing

schlumberger another example which is fairly telling of the up side of international law that it tends to be oddly enough more rational and methodical. after pan am flight one '03 brought down over lockerbie scott lind reality had a policy of use of force in response to retaliation the president was key in doing it against iran and syria that the u.s. government believes was responsible for downing pan am 103 but they wanted to set up a special tribunal to investigate and in the course of their investigation a pad out the perpetrators were the bn and not syrian and iranian. of the media they came out of the game with the preferred policy approach we have articulate it we would have hit the wrong country. though the goal approach provided the avenue for a more rational thinking and the gathering of the evidence to the legal process. there is also a situation of a cruise ship in the mediterranean hijacked by terrorist and they killed an american and citizen and eventually stopped in egypt and boarded an egyptian plane and ronald reagan deployed fighter planes of an aircraft carrier to in

done well recently, and missing earnings would not be a good thing for this intraday chart of schlumberger who, too, made a come back in the middle of the day. >>> in europe, another weak part of concerns of europe and how much support for greece in the european union, and those stocks came off of the loes and there is the international bank of greece as officials there including mr. jianger and mr. treasa made statements about greece being in the european union. >>> there is conagra foods and maria is talk about new stock highs, including conagra. and tiffany's were shy of earnings expectations because of the compensation costs were higher than expected and that is is a trend for a lot of the big retailer recently. mari maria, back to you. >>> thank you, bob. google takes a new approach to china, and jane wells with the latest on google. jane, when you came up early the stock was coming up higher, but closed lower on the day. jane? >> and baidu did the exact opposite. we have been watching the reactions of google and baidu as google made it official, it is redirecting traffic from the chi