WESTCHESTER COUNTY, N.Y. (TheStreet) -- As a peddler of dusty pez dispensers goes, so goes America--at least according to a bunch of the media covering eBay's ( EBAY) earnings, reported yesterday.Hear The Associated Press tell it and you'd think that eBay, which reigned in earnings estimates for the current quarter, which includes the holiday period, is effectively signaling that the Christmas selling season will be grim for everyone. Wrote AP: "Its tempered expectations could signal a generally not-so-jolly holiday season on the horizon for all types of retailers." There's only one problem here: it's not true. eBay barely touched revenue estimates. That implies that they don't think their shoppers are disappearing, much less anyone else's. Instead, the company ratcheted down bottom line estimates. Expenses rose as--and this happens often--acquisitions proved more complicated to bring into the fold. This is not good for eBay. But it says virtually nothing about the wider Christmas selling season. Bloomberg, by contrast, got it right. Starting in the headline, they tell the appropriate tale: "EBay Shares Decline After Forecasts Miss Some Estimates on Marketing Costs." Bloomberg is soon describing the coming Christmas season as "solid" for eBay, let alone everyone else. That's more like it. The Christmas season is going to be tough enough. It's regrettable to see lost hope fobbed on traders under a mistaken pretense.