Stifel nicolaus figures removing the pc business would improve h-p 's operating margins to about 15 % from the current 12 % , based on back-of-the-envelope math .
" The concern is big retailers are discounting so much , sales look better , but at what cost ? " Said angel mata , managing director of listed equity trading at stifel nicolaus capital markets in baltimore .
Meyer shields , an analyst with stifel nicolaus , focused partly on this issue when he initiated coverage of berkshire last week with a ' hold ' rating .
