BofA Cutting Oregon Mortgage Jobs

More than a hundred mortgage employees are impacted from a decision by Bank of America Corp. to end operations at an Oregon location.

National mortgage fulfillment and centralized mortgage sales operations are being discontinued at an office in Hillsboro, Oregon, a statement said.

The Charlotte, North Carolina-based organization attributed the action to its strategy of simplifying its operations and reducing its costs.


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From:: Financing

Embrace Home Loans Expanding Staff

With an increase in home prices expected this year, Embrace Home Loans plans to expand its staffing across the country.

Nationwide headcount at the Newport, Rhode Island-based mortgage banking firm already stands at more than 600 employees.

But with home prices forecasted to rise, Embrace Home Loans said it is ramping up recruitment efforts across its branch network.


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From:: Financing

General Mills recalls some Betty Crocker cake mixes on E. coli risk

General Mills Inc. said late Monday it is recalling one of its Betty Crocker brand cake mixes from Canadian markets because of a possible E. coli contamination risk. The company said it is recalling boxes of its “Betty Crocker Super Moist brand Cake Mix Rainbow Bit” sold in Canada because of a possible contamination to the E. coli O121 bacteria. General Mills said no illnesses have been reported and that the Canadian Food Inspection Agency is conducting an investigation, which may lead to the recall of other products. General Mills shares were unchanged at $71.81 after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Protagonist Therapeuticals files for IPO

Protagonist Therapeuticals Inc. plans to sell up to $75 million worth of shares in an initial public offering, according to a regulatory filing Monday. Protagonist, based in Milpitas, Calif., is developing drugs to treat colon diseases. Protagonist has incurred “significant losses” since its start and lost $11.7 million in the first three months of 2016, compared with losses of $2.7 million in the year-ago period, according to the filing. The company also said it does not expect to be profitable “for the foreseeable future.” Protagonist will list on the Nasdaq under the symbol PTGX.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

CytRx shares plummet 60% after release of cancer study data

CytRx Corp. shares dropped in the extended session Monday after the tiny biotech company said a late-stage study showed one of its cancer drugs did not perform better than other typically used drugs. CytRx shares fell 64% to 90 cents a share after hours following a brief halt. Prior to the close, shares had advanced 11% to finish at $2.51. The company said available data showed that soft tissue sarcoma patients given its drug aldoxorubicin did not show a significant difference between those given another drug used to treat the cancer. CytRx said that about half the patients in the study had been excluded from the data because the study had been interrupted in November 2014, but it hoped to conduct a second analysis.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Xerox shares rally on report of possible deal with R.R. Donnelley

Shares of Xerox Corp. rallied in Monday’s extended session following a report that it may be pursuing a merger of its copy business unit. Bloomberg TV said Xerox is holding talks with R.R. Donnelley & Sons Co. on a possible deal. Xerox had announced earlier this year that it will split into two publicly traded entities–one selling and managing office equipment and the other providing office services. Xerox climbed more than 3% after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News