Daily Movers for October 16th, 2019

Bank of America Corporation (NYSE: BAC) shares edged higher by 3% after reporting stronger-than-expected quarterly results. The bank reported earnings of USD 0.56 per share, surpassing estimates of USD 0.51 per share.

United Airlines Holdings, Inc. (NASDAQ: UAL) shares gained 2.4% after reporting its quarterly financial results during Tuesday’s extended trading hours. The airline reported earnings of USD 4.07 per share, above estimates of USD 3.97 per share.

Workday, Inc. (NASDAQ: WDAY) shares plunged by 12% after RBC cut its price target on the stock from USD 225 to USD 212 per share. RBC maintained its outperform rating on Workday.

Adobe Inc. (NASDAQ: ADBE) shares fell by 3.5% on Wednesday after Citi downgraded the stock from a “buy” rating to a “neutral.” Citi also lowered its price target from USD 322 per share to USD 313 per share.

ServiceNow, Inc. (NYSE: NOW) shares edged lower by 8.1% after Morgan Stanley downgraded the to “equal weight” from “overweight.” The firm cited its concern over possible declining profit margins due to increased research and development expenses.

Ally Financial Inc. (NYSE: ALLY) shares slipped by 4.2% on Wednesday morning after reporting quarterly earnings of USD 1.01 per share. However, Ally surpassed analysts’ estimates of USD 0.98 per share.

Achillion Pharmaceuticals (NASDAQ: ACHN) shares skyrocketed by over 80% on Wednesday morning after Alexion Pharmaceuticals (NASDAQ: ALXN) agreed to acquire the Company for a cash deal valued at USD 930 Million or USD 6.30 per share.