Jeff Sessions

Trump's illegal immigration stance may boost private prisons

The population of American prisons is likely to rise for the first time in nearly a decade with President-elect Donald Trump's promise to detain and deport millions of immigrants who are in the country illegally and his selection of tough-on-crime Sen. Jeff Sessions to the nation's highest law enforcement post.

If so, one of the prime beneficiaries would be the private companies that operate many of the nation's prisons. The stock market seems to agree.

A day after the election, CoreCivic Co., formerly Corrections Corporation of America, saw the biggest percentage gain on the New York Stock Exchange with shares climbing 43 percent.

Shares of Geo Group, another private...

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