Shares of eBay (nasdaq: EBAY ) fell $1.00, or 2.9%, to $34.00, after Bear Stearns (nyse: BSC ) analyst Robert S. Peck downgraded the company to “peer perform” from “outperform.” Peck said the company will probably focus on investing in its future next year and less on its immediate performance.

“While eBay has implemented (or begun to implement) many positive changes, it is our view that there will still be more investment needed in 2008 and that eBay would sacrifice near term financials to maximize the future for the company,” said Peck.

Posted: 11|2|07 at 4:25 pm. Filed under: Auction News.