CCA on verge of losing Texas contract

A Texas Senate committee this week voted to let a prison management contract with Corrections Corp. of America expire when it comes up for renewal this summer. If fully approved, the move would empty the 2,100-bed Mineral Wells Pre-Parole Transfer Facility west of Dallas, which Nashville-based CCA has owned and managed since 1995. The company's contract with the state includes two renewal options for two years each. Shares of CCA (Ticker: CXW) are up slightly to almost $38 in Wednesday afternoon trading. Year to date, they're up 7 percent.