Business

Morrisville's MaxPoint posts 15% increase in Q1 revenue

May 17, 2016

(The News & Observer, Raleigh)

MaxPoint Interactive increased its guidance for the year and reported first-quarter adjusted revenue of $19.4 million, up 15% from a year ago. Adjusted net loss was $1.48 per share; analysts had projected a loss of $1.51 per share. In late April, the digital marketing company completed a reverse stock split and this month moved its listing to the Nasdaq from the NYSE.

Tom Ross takes new job leading Paul Volcker's nonprofit in New York

May 17, 2016

Former UNC System President Tom Ross has a new job running the Volcker Alliance, a nonprofit that wants to improve the government's performance and restore confidence in public institutions.

Vertex Railcar lays off 61 workers in Wilmington

May 16, 2016

(Greater Wilmington Business Journal)

Amid reduced demand for the sand hopper cars produced at its Wilmington plant, Vertex Railcar laid off 61 workers on Friday. A company spokesman says Vertex is shifting its focus to producing other types of railcars such as aggregate and foodservice hoppers and food-grade tank cars. The company announced in 2014 it would eventually hire more than 1,300 people at the 559,000-square-foot plant near Port of Wilmington. After the layoffs, Vertex has 221 employees.

Moogfest merges art and technology in 4-day festival

May 16, 2016

(WRAL TechWire)

Moogfest, the music and technology conference inspired by synthesizer inventor Robert Moog, kicks off in Durham on Thursday after being held for more than a decade in Asheville. Speakers include Martine Rothblatt, creator of Sirius satellite radio and CEO of United Therapeutics. Click here for the the full lineup of musicians and speakers.

Transgender CEO fights to repeal HB2

May 16, 2016

(The News & Observer, Raleigh)

Martine Rothblatt, the CEO of United Therapeutics who had sexual reassignment surgery in 1994, says HB2 is rooted in a lack of education and understanding of the transgender community and that her company has no plans to leave the state but will instead work to ensure the law is overturned. The biotech company employs about 300 people at Research Triangle Park.

High Point Bank considered another offer, filing shows

May 16, 2016

(Winston-Salem Journal)

BNC Bancorp wasn't the only company interested in buying High Point Bank last year, according to a filing released ahead of next month's shareholder vote on the deal. Another unnamed bank submitted a preliminary offer in October, a month before BNC announced it would acquire High Point Bank, one of the state's largest privately held banks with $853 million in assets.

Harris Teeter expands fuel business with 4th NC station

May 16, 2016

(The Charlotte Observer)

Matthews-based Harris Teeter this week will open its fourth gas station in North Carolina, at Waterside Crossing in Denver, about 20 miles northwest of downtown Charlotte.

Changes ahead at Port of Wilmington

May 16, 2016

(StarNews, Wilmington)

An Asian carrier is consolidating its twice-weekly call at Port of Wilmington into a single run using a larger ship. Any lost traffic will be made up with a new run to and from Mexico with European carrier Maersk, says Greg Fennell, chief commercial officer of the N.C. State Ports Authority.

RTP drug developer brings in $47 in new funding

May 13, 2016

(Xconomy.com)

G1 Therapeutics, a spinout from UNC Chapel Hill, has raised $47 million to advance clinical studies of a treatment for small cell lung cancer and to begin clinical trials of a treatment for breast cancer. The funding was led by Boston-based Cormorant Asset Management, one of several new investors, and included existing investors Eshelman Ventures and Hatteras Venture Partners. G1 has raised $93 million since 2012.

Delta Apparel cutting 160 jobs, closing Maiden plant

May 13, 2016

(MarketWatch.com)

Delta Apparel, the Greenville, S.C.-based company whose brands include Soffe and Salt Life, is shuttering its textile manufacturing plant in Maiden where it employs 160 people. The company is moving production to a facility in Honduras.