President-elect Donald Trump says Tom Homan, his former acting U.S. Immigration and Customs Enforcement director, will serve as “border czar” in his incoming administration, a position that is likely to play a key role in Trump's campaign pledges to secure the U.

Private prison stocks soared Monday after President-elect Donald Trump announced immigration hardliner Tom Homan as the nation's next "border czar." GeoGroup jumped 4.5%, while CoreCivic increased 6.3%.