Lackluster earnings lead to a plunge in AOL stock, and AOL authorizes repurchase program News of AOL's less-than-explosive second quarter performance couldn't have come at a worse time, as investors treat the stock market like a bad boyfriend that you hate because he never calls you, but you just can't stay away from because he looks so damn good in those jeans. Shortly after AOL released its Q2 earnings report, which beat analyst expectations but nevertheless failed to inspire investors, the company's stock tanked. Shares closed on Wednesday at $10.22, compared to $13.34 on Tuesday and $15.10 on Monday. On Thursday, AOL announced a $250 million stock repurchase program, which takes effect immediately (the release, which went out this morning, actually says the program takes effect August 10). Under the terms of the program, AOL is authorized to buy back $250 million of its outstanding shares of common stock over the next year.