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was down 5.3% in early trading after opening up. After the close the company reported third-quarter earnings of 14 cents per share, beating the Street's estimate of 13 cents and the year-ago 8 cents.

AOL said subscriptions and ad revenue beat analyst estimates, and CEO Steve Case said he was comfortable with the advertising outlook.

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Credit Suisse First Boston

reiterated its buy rating and 12-month target of $80.