Costco sales beat, NovoCure plunges, Pinnacle West jumps after close

Wall Street ended mixed Monday as reports of a U.S.-Iran ceasefire pushed oil lower. The after-hours session brought three distinct stories.

Costco released its January sales data. The warehouse retailer reported net sales of $22.2 billion, up 9.5% from a year earlier. That marks a deceleration from December's 10.7% growth. It beat the 8% consensus estimate compiled by Bloomberg. Excluding gasoline price deflation and foreign-exchange shifts, same-store sales rose 7.5% in the U.S. and 6.8% globally. The numbers suggest Costco's low-income member base continues to spend even as broader retail softens. Shares rose 1.4% in extended trading.

NovoCure shares tumbled 12% after hours. The company said its phase 3 LUNAR trial for non-small cell lung cancer missed the primary endpoint. The study tested tumor-treating fields combined with standard therapy against standard therapy alone. NovoCure reported no statistically significant improvement in overall survival. Analysts at SVB Securities called the result "disappointing." The miss leaves NovoCure reliant on its approved glioblastoma treatment for near-term revenue. The company had hoped to expand into lung cancer as its next growth driver.

Pinnacle West Capital Corp. surged 6.3% after hours. The utility holding company posted fourth-quarter earnings per share of $1.82, above the $1.56 consensus. Higher customer rates and lower operating expenses at its Arizona Public Service unit drove the beat. Pinnacle West reaffirmed full-year 2025 guidance for EPS between $4.40 and $4.60. The stock, which trades under ticker PNW, carries an Unscored label in AlphaScala's system. A detailed profile is available on the PNW stock page.

The after-hours moves set up Tuesday's trading. Costco's sales report offered an early look at January consumer spending. NovoCure's trial failure shifts attention back to its core glioblastoma franchise. Pinnacle West's earnings beat extends the utility sector's recent rally.