EDIT: Original question did not specify language. My answer is in C#.
You should instead use HashSet for this purpose. If you must use ArrayList, you could use the following extension methods:
var a = arrayListA.Cast<DateTime>();
var b = arrayListB.Cast<DateTime>();
var c = b.Except(a);
var arrayListC = new ArrayList(c.ToArray());
using HashSet...
var a = new HashSet<DateTime>(); // ...and fill it
var b = new HashSet<DateTime>(); // ...and fill it
b.ExceptWith(a); // removes from b items that are in a