Prison operators rise after Biden falters in debate with Trump

Corecivic

28/06/2024 13:17

** Shares of immigration detention center operators GEO
Group  GEO.N  and CoreCivic  CXW.N  rise premarket 
    ** GEO gains 5.5% to $14.25, while CXW up 3.1% at $12.62
    ** U.S. President Joe Biden appears shaky in debate against
Republican rival Donald Trump; Trump has promised to crack down
on illegal immigration and restrict legal immigration if elected
to a second four-year term on Nov 5
    ** Trump's stance on immigration could boost need for
detention facilities, benefiting prison operators  
    ** GEO trimmed 2024 profit forecast in early May
    ** YTD, GEO up ~25% while CXW has lost ~16%

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))