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Weakness in shares of Corrections Corp. of America (CXW), -9.7% premarket, appears to be related...
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Tuesday, April 24, 2012, 9:00 AM ETWeakness in shares of Corrections Corp. of America (CXW), -9.7% premarket, appears to be related to plans for a California prison overhaul that reportedly would cut spending by billions of dollars. The California Department of Corrections and Rehabilitation accounted for 13%, 13% and 11% of CXW revenue for 2011, 2010 and 2009, respectively.
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