After-Hours Update: GBE, LLY, GNBT
Tuesday, October 19, 2021 8:39 PM

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Grubb & Ellis Co. (NYSE: GBE) slumped more than 19% in late trading after the company said that it expects to report revenue of approximately $144 million and negative adjusted EBITDA of approximately $3 million. The company believes that, while it remains on track to meet its full-year revenue guidance, it no longer expects to achieve its previously announced full-year adjusted EBITDA target of $10 million to $15 million. Full-year adjusted EBITDA for 2010 is now expected to be negative, but management anticipates that adjusted EBITDA for the fourth quarter of 2010 will be positive, representing an improvement in each quarter of 2010. The company cited weakness in its Investment Management segment, including equity raised and delays in the receipt of certain Investment Management fees as the primary causes for the reduced full-year performance.

Eli Lilly and Company (NYSE: LLY) announced late Tuesday that the U.S. Food and Drug Administration has issued a complete response letter regarding the New Drug Application for BYDUREON (exenatide extended-release for injectable suspension). In the complete response letter the FDA requested a thorough QT study with exposures of exenatide higher than typical therapeutic levels of BYDUREON. Shares of the drugmaker dropped more than 2% in extended trading.

Generex Biotechnology Corporation (NASDAQ: GNBT) announced Tuesday that on October 19, 2021 the NASDAQ Listing Qualifications Panel notified the Company that the Panel has determined to delist the Company's common stock from the NASDAQ Capital Market and will suspend trading of the stock effective at the open of trading on Thursday, October 21, 2021 as a consequence of the Company's non-compliance with NASDAQ's minimum $1.00 per share closing bid price requirement. Shares of the company sank more than 19% in after-hours trading.

Disclosure: Author doesn't own any of the stocks discussed here.



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    • NEW YORK - A high-kicking Kung Fu Panda and a diary-toting Wimpy Kid joined the giant balloon lineup as the Macy's Thanksgiving Day Parade unfolded Thursday, drawing tens of thousands of spectators to the annual extravaganza on a chilly, overcast morning.
    • "We don't have anything like this in England," she exclaimed.
    • Another new balloon character was Virginia O'Hanlon, the 8-year-old girl whose letter to the editor elicited the response, "Yes, Virginia, there is a Santa Claus."
      • Obama calls troops as he awaits White House feast Nov 25, 2021 11:23 AM

        • WASHINGTON - President Barack Obama is celebrating a quiet Thanksgiving at the White House, telephoning U.S. servicemen and women stationed around the world and dining on his favorite holiday food with family and friends.
        • The White House says Obama made calls thanking two members each from the Army, Air Force, Coast Guard, Marine Corps and Navy for their service and sacrifice.
        • He wished them and their families a happy Thanksgiving, before joining his own for the holiday.
          • Aust. deports US man convicted in wife's death Nov 25, 2021 11:10 AM

            • LOS ANGELES - A law enforcement official says an Alabama man who served 18 months in Australian for his wife's 2003 drowning death has returned to the United States, where he could face prosecution for killing her during their honeymoon on the Great Barrier Reef.
            • A watch commander for Los Angeles Police Department declined comment.
            • Law enforcement officials said Watson is being processed through customs and he's expected to be turned over to Los Angeles police.
              • Irish opposition vows to upend austerity plan Nov 25, 2021 11:08 AM

                • DUBLIN - Opposition leaders vowed Thursday to rewrite Ireland's harsh four-year austerity plan if, as expected, they oust Prime Minister Brian Cowen in early elections next year.
                • European Union and International Monetary Fund experts negotiating an estimated ?85 billion ($115 billion) bailout for Ireland have demanded that the country make binding commitments to slash its deficit - now the worst in Europe - as a condition of any aid.
                • To that end, Ireland on Wednesday unveiled a plan to cut ?15 billion ($20 billion) from its deficits through 2014, starting with a 2011 budget, which the government will present to parliament on Dec. 7.
                  • Iraq's PM asked to form next government Nov 25, 2021 10:54 AM

                    • BAGHDAD - Iraq's prime minister appealed to the country's political factions for unity after formally accepting on Thursday a request by the president to form the next government, part of a deal to end an eight-month deadlock over who would lead the country the next four years.
                    • The long-awaited request from President Jalal Talabani sets in motion a 30-day timeline to accomplish the daunting task of finding a team that includes all of Iraq's rival factions and will oversee the country during the departure of American troops.
                    • The new government is expected to include all the major factions, including the Kurds, Shiite political parties aligned with Iran and a Sunni-backed bloc that believes it should have been the one leading the next government.

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