GEO Group rises on ICE contract announcement

Federal immigration and prison operator GEO Group popped after announcing late Tuesday that it has won a new contract from US Immigration and Customs Enforcement to continue in its role as a vendor of electronic monitoring, case management, and supervision services under the Intensive Supervision Appearance Program.

(That’s a program that keeps track of people as they undergo the immigration review process.)

Since the election, GEO Group has been one of a number of stocks whose business — or leadership — is seen as closely tied to the Trump administration, or set to benefit from White House policy changes.

GEO Group is up 150% since President Trump was elected last November.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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