PayPal, Moderna Lead Buyback Frenzy Week, Giving Stocks a Lift

At least $21 billion in fresh share repurchase programs have been unveiled this week alone, with PayPal Inc. leading the charge and authorizing a new $15 billion buyback plan as it works with Elliott Investment Management to turn around its struggling shares. Moderna Inc., Airbnb Inc. and Marriott International Inc. have also added to or unveiled new programs in the last three days, following a slew of others, including Chevron Corp., Charles Schwab Corp. and Exxon Mobil Corp. that did it last week.