ServiceNow, Adobe, Workday stocks get BofA PT boost: what’s driving the optimism

Snowflake raised $3.75 billion via zero-coupon convertible notes, split into $2.0 billion due 2029 and $1.75 billion due 2031. Initial conversion prices are $500.38 and $483.98, respectively. The company also entered capped call transactions to limit dilution, paying about $383.5 million. Proceeds will fund debt repurchases and support general corporate purposes.

On CNBC's 'Final Trades,' experts picked Snowflake (SNOW), Micron (MU), Morgan Stanley (MS), and Chubb (CB). Snowflake expanded its collaboration with LSEG. Micron reported Q4 revenue of $54.23B, beating estimates. Morgan Stanley and Chubb are set to release earnings soon. SNOW +0.7%, MU +3%, MS -0.1%, CB +1.9%.

Workday (WDAY) announced a new $1.5 billion revolving credit facility on October 1, 2026, replacing a $1 billion facility from 2022. The agreement, with a maturity date of October 1, 2031, allows for early repayment and currency options. Interest rates are tied to the company's leverage ratio or debt rating. Workday had no outstanding loans at closing. GuruFocus estimates the stock is 42.3% undervalued.

Workday, Inc. replaced its $1 billion credit facility with a $1.5 billion revolving line, maturing in 2031. The new agreement offers flexible borrowing terms and pricing based on leverage or debt rating. Workday had no outstanding loans as of the closing date. The increase provides more financial flexibility for corporate purposes, including potential acquisitions.

Workday (WDAY) secured a $1.5 billion unsecured revolving credit facility led by Wells Fargo, maturing in 2031 with optional extensions. The company replaced its $1 billion facility with Bank of America, reporting no outstanding borrowings at closing. The new facility offers borrowing options in U.S. dollars and select foreign currencies.

ServiceNow (NOW) shares rose after Accenture (ACN) reported better-than-expected Q4 results and FY27 guidance above estimates, boosting software stocks. Accenture's revenue grew 6% YoY to $18.70B, with EPS at $3.29. ServiceNow launched 'Flow,' an AI service desk, and is set to report earnings on Oct 28, 2026, with revenue estimates at $3.93B. Analysts maintain a Buy rating with a target of $143.71.