The changes spooked a lot of people on the call,

The changes spooked a lot of people on the call, when analysts were trying to figure out why the changes were made and the changes should have already been in our estimates. I am concerned that management had guided us previously so far away from where they guided us now.

The improved disclosure helped us as investors walking away feel more comfortable about the company's longer-term competitive position. For the first time, management stated that their long-term operational goals for the company will result in increasing shareholder value.

However, this is also a potential negative as well, as buyers and sellers communicating on 'the phone' makes it easier to take transactions off eBay,

I am not changing my rating on the stock (

In the past, many investors considered it inappropriate to include a then-highflying Internet stock into the index, which relative to the rest of the group was trading at a much higher trailing multiple, to such an extent that including it elevated the entire multiple of the S&P 500.

As most commerce is local in nature, local online advertising could be a big opportunity.

As long as eBay continues its current policy on non-disclosure of these metrics, we think investors will be very cautious as to their expectations of eBay's success in China, which would weigh on the stock,

Auctionshark.com has recently begun a trial of meta-auctions, ... Should these types of services gain momentum, they could increase the competition to eBay (or at least potentially increase marketing costs.)

Any kind of service is available to them.