Florida prison privatization plan voted down

Nashville-based Corrections Corp. of America and its main competitor GEO Group won't have a chance to pick up hundreds of millions of dollars in new Florida business after legislators there voted against a plan to privatize more than 20 prisons. GEO's CEO had called the proposal the private prison sector's biggest-ever contract opportunity. Shares of CCA (Ticker: CXW) have held steady over the past few days and are up about 11 percent in the past three months. The company last week beat analysts' estimates with its fourth-quarter earnings.