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    Crude oil futures rose on Friday in Asian trading, adding to their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies. U.S. crude futures are on track for their first weekly gains in 11 weeks, ending the longest losing streak since 1986.

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    Hedge fund mogul William Ackman's Pershing Square Holdings portfolio fell 13.1 percent this month, leaving the fund down 4.3 percent for the year, the firm said on Thursday. The performance numbers cover returns through Tuesday, Aug. 25. On Wednesday, Ackman told investors that his firm's roughly 10 percent gain through July had turned into a loss amid the market rout.

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    Amgen Inc. (AMGN) shares ticked up slightly in the extended session Thursday after the biotech company said the Food and Drug Administration approved its new cholesterol treatment. Amgen (AMGN) shares rose 0.5% to $156.56. The company said the treatment, Repatha, lowers "bad" cholesterol by blocking a protein that reduces the liver's ability to remove it from the blood.

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    * Cuts FY adj. profit forecast for second time. * Q2 rev $609.5 mln vs est. * To buy SeeControl, an enterprise Internet of Things platform. Autodesk Inc (ADSK), the maker of computer-aided design software, cut its full-year profit and revenue forecast for the second time this year, sending its shares down 7 percent.

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    Freeport-McMoRan Inc. (FCX) said late Thursday it "welcomes constructive input" from shareholders, in response to news earlier Thursday that activist investor Carl Icahn had taken a stake in the mining company. Freeport-McMoRan (FCX) shares jumped another 19% to $12.16 after hours as Icahn disclosed he'd taken a and felt shares were undervalued. Earlier in the day, Freeport-McMoRan (FCX) said it was, sending shares up nearly 29% to close at $10.19.

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    Hedge fund mogul William Ackman's Pershing Square Holdings portfolio fell 13.1 percent this month, leaving the fund down 4.3 percent for the year, the firm said on Thursday. The performance numbers cover returns through Tuesday, Aug. 25. On Wednesday, Ackman told investors that his firm's roughly 10 percent gain through July had turned into a loss amid the market rout.

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     Ulta Salon shares are up by 4.84% to $168 in after-hours trading on Thursday, following the release of the beauty retailer's second quarter earnings results today. The Bolingbrook, IL-based company reported second quarter net income of $74.2 million, or $1.15 per share on revenue that increased 19.4% to $877 million for the most recent quarter.

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    Legendary investor Carl Icahn has set his sights on miner Freeport-McMoRan Inc. (FCX), saying the company shares are undervalued and that he plans on having discussions about executive pay and capital expenditures, according to a filing. Icahn also said his fund may seek representation on the company's board. Shares of Freeport McMoRan (FCX) surged 18% in late- trading Thursday, after ending the day up 29%.

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    Shares of GameStop Corp. (GME) gained in Thursday's extended trade after the videogame retailer posted stronger-than- expected quarterly results. GameStop (GME) reported second-quarter earnings rose to $25.3 million, or 24 cents a share, from$ 24.6 million, or 22 cents a share, a year earlier. On an adjusted basis, the company earned 31 cents a share, ahead of 24 cents a share forecast by analysts in a FactSet survey.

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    The Michaels Co. shares closed trading up by 6.65% to $25.51 on Thursday afternoon, following the release of the company's 2015 second quarter earnings results. The Irving, TX-based arts and crafts specialty retailer reported second quarter earnings of $35.7 million, or 17 cents per share on revenue that rose 4% year over year to $984.3 million.

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     New Gold (NGD) shares are up by 7.18% to $2.09 in afternoon trading on Thursday, after the company announced the sale of its 30% stake in the El Morro mining project to Goldcorp (GG) for $90 million. New Gold will also receive a 4% stream on gold production from the El Morro property in Chile and had its $93 million carried funding loan canceled as part of the sale.

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    Shares of Fitbit Inc. (FIT) tumbled 7.5% in afternoon trade following two separate reports published Thursday about the fitness band maker that suggest slowing sales. IDC reported that its share of the total wearables market slid to 24.3% in the second quarter from 30.4% from the year-earlier period amid new competition from Apple Inc. (AAPL) and China's Xiaomi. The industry tracker expects smart wearables that are compatible with third-party apps to outpace regular wearables, such as...

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    Heavy machinery manufacturer Caterpillar Inc (CAT) said it plans a new round of layoffs to cut costs as declining revenues from global mining and construction activities erodes its bottom line. The Peoria, Illinois-based company said it notified workers earlier this week it will reduce staff in its customer services support division by cutting 475 jobs.

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    Welcome to Main Street Morning, The Washington Post’s daily collection of news affecting entrepreneurs, start-ups and small businesses with a special focus on policy and government.Here’s what’s affecting my small business, my clients and other entrepreneurs today.WashingtonWhy U.S. secrets may be at risk after the Ashley Madison Hack.Small business owners and labor experts told a House subcommittee that new regulations proposed by the NLRB could strip entrepreneurs of the flexibility they need to survive.The EconomyThe Commerce Department said that non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, increased 2.2 percent last month, the biggest rise since June last year.Why we should stop worrying about the market correction and get back to work.The ElectionsHillary Clinton calls for greater investment in rural America.The GOP’s nuclear option for Donald Trump is scary.Meet the liberals who love Trump.Birth tourism business is booming in the U.S.PeopleThe woman who downed an entire bottle of cognac because she couldn’t take it on a plane is a hero for our time.Why saying “thank you” is more important than giving employees a raise.Fantasy football costs employers $16 billion.Mozilla’S CEO vows to fire an anonymous employee for hate speech on Reddit.ManagementThis is the truth about Uber’s background checks.How a small company builds a great culture one hire at a time.Game maker Rovio cuts 40 percent of its work force.These are the top four reasons owners need a healthcare buyer’s advocate.Maybe an Amazon-style workplace could work for your small business.Cash FlowFour things every small business owner should do to save for retirement.A frozen yogurt shop gives away $100,000 to make a big difference in local schools.EntrepreneursWhy legal marijuana could be the first billion-dollar industry not dominated by men.RetailThe reason people first started shopping at Amazon is disappearing.Amazon is testing a restaurant delivery service to take on GrubHub.Amazon Underground offers apps that are actually free.Sales and MarketingWhy being picky about customers early on can bolster your long-term success.TravelIn-flight Wifi prices have jumped in recent months.EntrepreneursThe nine colleges whose graduates make the most money.FinanceA company raises $35 million to make businesses smarter about their customer communications.Start-upsAn American start-up is letting Cubans share their Internet connections for free.TechnologyFour weeks after its launch, Windows 10 is already on 75 million PCs and tablets.A grim forecast for computer and tablet sales takes a turn for the worse.OnlineGoogle Maps may soon host food photos.Slack’s new button wants to connect everyone’s work shares.A new report examines the marketing tech winners and losers across 42 million sites.Ad-block software is approaching 200 million users and here’s how publishers are reacting.Social MediaSix big reasons small businesses need to be on Periscope.OpportunitiesA look at the big, weird business of prom.IdeasHere are a few ways to celebrate man’s best friend on next year’s National Dog Day.Around the CountryThe NRA sues Seattle over a gun tax.The owner of a Seattle coffee shop wants more immigrant businesses.A San Francisco initiative tries to define and help long term businesses.A Texas business owner is warning others about coyotes.A Pittsburgh record store owner is charged in running a criminal enterprise that stole $2 million from local retailers.Stealing E-Cigarettes in Wichita, Kansas is becoming a big business for thieves.South Florida’s construction boom is heading north.Around the WorldScotland will be giving all children library cards.For the third day in a row, China’s stock market takes a huge hit.Why the world is struggling to adjust to China’s “new normal.”A former Tibetan monk is accused of defrauding real estate investors.Gene Marks owns the Marks Group,  a Bala Cynwyd  PA  consulting firm that helps clients with customer relationship management. Follow Gene Marks and On Small Business on Twitter.News we should know about? Email us here.