Prison operators GEO, CoreCivic down as Democrats to oppose DHS funding

Geo

26/01/2026 18:47

Updates

** Shares of prison operators GEO Group GEO.N and CoreCivic CXW.N down about 11.2% and 9% respectively

** Democrats in the Senate have said they will oppose a funding bill for the Department of Homeland Security, overseer of ICE

** This follows a fatal shooting of a second U.S. citizen by immigration agents in Minnesota

** Minnesota state officials are also pressing a federal judge to temporarily stop the surge of 3,000 immigration agents

** In December, a GEO unit received a $121 million ICE contract for skip tracing services

** In October, GEO was awarded a two-year electronic monitoring, case management, and supervision contract by ICE

** CXW also received a five-year ICE contract for its 2,160-bed Diamondback facility, which had been idle since 2010

(Reporting by Aishwarya Jain in Bengaluru)

((Aishwarya.Jain@thomsonreuters.com))