Corrections Corporation of America (CXW), GEO Group (GEO) Decline; Justice Department to End Use of Private Prisons - Washington Post
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
(Updated - August 18, 2016 11:41 AM EDT)
(Updated - August 18, 2016 11:35 AM EDT)
GEO Group (NYSE: GEO) and Corrections Corporation of America (NYSE: CXW) shares were hammered Thursday after the Washington Post reported that the Justice Department plans to end use of private prisons. The decision was announced in a memo.
“They simply do not provide the same level of correctional services, programs, and resources; they do not save substantially on costs; and as noted in a recent report by the Department’s Office of Inspector General, they do not maintain the same level of safety and security," said the Washington Post, citing Sally Yates.
Both stocks were paused intraday following larges spikes lower.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CBOE (CBOE) Announces New SPX Options Implied Volatility-Based Index: SMILE
- First NBC Bank Holding (FNBC) Regains Nasdaq Listing Compliance
- Disney (DIS) on Watch Amid Unconfirmed Rumors of Spin-Off
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Rumors, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!