Big US stocks lead buyback frenzy

PayPal is leading the charge and authorising a new US$15b buyback plan. (Image: Getty)

Thu, 04 Aug 2022

Investors are debating whether the rebound in US stocks will stick, but corporate America is taking no chances and turning to a favourite old method for juicing the market: buying back billions of dollars of their own stock.At least US$21 billion (NZ$33.5b) in fresh share repurchase programmes have been unveiled this week alone, with PayPal leading the charge and authorising a new US$15b buyback plan as it works with Elliott Investment Management to turn around its struggling shares.Moderna, Airbnb and Marriott International have also added to...

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