The move with Saunders was retroactive to Sunday. The Rangers announced the moves before Monday night's game in Boston.
Saunders left his only start of the season last Friday when he was hit on the ankle by a line drive by Tampa Bay's Evan Longoria with two outs in the fourth inning. He gave up five runs and six hits in 3 2-3 innings of the Rays' 8-1 win.
McCutcheon was with Texas four days before being sent to Frisco after allowing three runs in 2 1-3 innings last Friday against the Rays. He did not pitch after that.