A class of ownership in a corporation with a stated dividend that must be paid before dividends to common stock holders. Preferred stock does not usually have voting rights
But the sweetner is... Preferred shareholders have priority over common stockholders on earnings and assets in the event of liquidation.
So, don't underestimate that buffoon on CNBC on insider information...he might be telling you that deals are looming... and if it is going to rain green for the preferred it will do the same for the common grass too..