CoreCivic shares are trading lower after the company announced that it received a notice from the U.S. Immigration and Customs Enforcement that the agency intends to terminate its inter-governmental service agreement for services at the South Texas Family Residential Center.
Portfolio Pulse from Benzinga Newsdesk
CoreCivic shares are trading lower after the company announced that it received a notice from the U.S. Immigration and Customs Enforcement (ICE) about the termination of its inter-governmental service agreement for services at the South Texas Family Residential Center.
June 11, 2024 | 11:46 am
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NEGATIVE IMPACT
CoreCivic shares are trading lower following the announcement that ICE intends to terminate its service agreement for the South Texas Family Residential Center.
The termination of the service agreement by ICE is a significant regulatory development that directly impacts CoreCivic's operations and revenue from the South Texas Family Residential Center, leading to a negative market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100