This Surah is named so because the name of Allah (swt); Al-A’laa is mentioned in it. As mentioned in Musnad Imam Ahmad, the Messenger of Allah (saws) liked this Surah.
Nu’man bin. Bashir (May Allah be pleased with him) reported:
“the Messenger of Allah (saws) used to recite on two ‘Ids and in Friday prayer:
” Exalt the name of your Lord, the Most High “, and:” Has there come to you the news of the overwhelming event”. And when the ‘Id and Jumu’a combined on a day he recited these two (surahs) in both the prayers..” 
Uqbah ibn Amir (May Allah be pleased with him) said:
“When ” Exalt the name of your Lord, the Most High” was revealed, the Messenger of Allah (saws) said: “Use it when bowing” and when “Glorify the name of your most high Lord” was revealed, he said: “Use it when prostrating yourself”. 
 Musnad Imam Ahmad, Musnad Imam Ali bin Abi Talib (May Allah be pleased with him), hadith No (742).
Sahih Muslim, Book of Jum’ah, Chapter: What is to be recited in Jumu`ah prayer, hadith No (878).
 Sunan Abi Dawud, book of prayers, Chapter: What A Person Should Say In His Ruku’ And Prostration, hadith No (869).