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Corrections Corporation of America (CXW), GEO Group (GEO) Decline; Justice Department to End Use of Private Prisons - Washington Post

Go back to Corrections Corporation of America (CXW), GEO Group (GEO) Decline; Justice Department to End Use of Private Prisons - Washington Post

GEO Group (GEO) Opening Delay, News Pending

August 19, 2016 9:27 AM EDT

GEO Group (NYSE: GEO) Opening Delay, News Pending

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Corrections Corp. (CXW) Responds to DOJ Action on Private Prisons; Says BOP Contracts Represent ~7% of Annual Revs

August 19, 2016 6:15 AM EDT

Corrections Corporation of America (NYSE: CXW) responded to the Federal Bureau of Prisons' ("BOP") decision to amend the Criminal Alien Requirement XVI ("CAR 16") solicitation by reducing the previously announced 10,800 contract beds to 3,600 contract beds in response to recommendations from the Department of Justice to reduce future reliance on privately operated prison facilities. CCA's Eden Detention Center, containing 1,422 beds, is included in the CAR 16 solicitation.

"We have been a keen observer of the BOP's declining inmate population over the last three years.... More

GEO Group (GEO) Comments on DOJ Decision; Disappointed with Action, Says Impact Not Imminent

August 18, 2016 4:59 PM EDT

The GEO Group, Inc. (NYSE: GEO) commented on the Department of Justice (DOJ) announcement regarding contracted prisons for the Federal Bureau of Prison (the BOP). GEO has had a long standing private-public partnership with the BOP that dates back to the 1990s. At the federal level, GEOs facilities have a proven track record of providing cost-effective, high quality services for those entrusted to GEOs care.

While... More

Corrections Corp. (CXW) Comments on DOJ Action; Says Findings Don't Match with Independent Studies

August 18, 2016 4:27 PM EDT

Corrections Corp. (NYSE: CXW) sent out the following commentary today to StreetInsider.com with respect to the Deparment of Justice's move to phase-out the use of private prisons:

We value our partners, and we will continue to work with them, both through the types of management solutions weve provided for more than three decades, as well as... More

UPDATE: Corrections Corp. (CXW), GEO Group (GEO) Stock Reactions 'Overdone', Says Canaccord

August 18, 2016 1:12 PM EDT

(Updated - August 18, 2016 3:28 PM EDT)

Canaccord Genuity analyst Ryan Meliker commented on Corrections Corp. (NYSE: CXW), and GEO Group (NYSE: GEO) Thursday after shares collapsed in the wake of reports indicating that the Justice Department's plans ending the use of private prisons on BOP contracts. In the analysts' view, while clearly... More

Corrections Corp. (CXW) Paused Again for Volatility; Shares Down 50%+

August 18, 2016 12:41 PM EDT

Corrections Corp. (NYSE: CXW) triggers volatility trading pause once again. The stock is down over 50 percent for the session.

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U.S. DoJ Affirms Plans to Phase-Out Use of Private Prisons (CXW) (GEO)

August 18, 2016 12:16 PM EDT

The U.S. Department of Justice posted the following to its news blog on Thursday:

When most people think of the Justice Department, they are likely to imagine the most visible parts of our job the law enforcement agents who investigate crimes or the lawyers who prosecute them. But the departments core responsibilities go beyond investigation and prosecution. Unlike most states, the federal government puts its law enforcement agents, criminal prosecutors, and correctional officers all in a single department. We handle every step from the start of an investigation to the end of a prison sentence. Our... More

Corrections Corp. (CXW), GEO Group (GEO) Paused Again for Volatility

August 18, 2016 11:56 AM EDT

Corrections Corporation of America (NYSE: CXW) and GEO Group (NYSE: GEO) are both paused for volatility.

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GEO Group (GEO) Halted on Circuit Breaker for Second Time, Shares Down 30%

August 18, 2016 11:45 AM EDT

GEO Group (NYSE: GEO) Halted on Circuit Breaker for Second Time, Shares Down 30%

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