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No great expectations for AOL summit

America Online on Wednesday will play host to investors and analysts for its annual investor's day--but many attendees do not have high expectations for the gathering.

America Online this week will play host to investors and analysts for its annual investor's day--but many attendees do not have high expectations for the gathering.

America Online chief executive Steve Case and president Bob Pittman will host the annual meeting on Wednesday in Washington.

Analysts who plan to attend say the meeting will address the company's core properties, but they are not getting their hopes up for AOL to unveil anything new.

Some expect many within the investor community will want to ask AOL's management team about its broadband strategy. This comes as reports indicate AOL may be close to investing $1 billion in Hughes Network Systems in an effort to counteract AT&T's aggressive moves into cable systems. AOL is already planning to roll out high-speed digital subscriber line service later this year.

"We wonder what, if anything, will come out of AOL's investor conference next week," Keith Benjamin, an equity analyst at BancBoston Robertson Stephens, wrote in an analyst note on Friday. "We hope to hear more about DSL developments, and hopefully gain some insight into timing of availability for AOL's customers."

AOL's stock on Friday closed at 125.25, down 7.375. The stock has taken a hit since its reaching its 52-week high of 175.5 per share in the beginning of April.