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Al KellyMark Neuling | CNBCVisa is suspending card payments for advertising on Pornhub and its parent company MindGeek after a lawsuit stoked the controversy that the payments giant could be facilitating child pornography.A federal judge in California on Friday denied Visa's motion to dismiss a lawsuit by a woman who accuses the payment processor of knowingly facilitating the distribution of child pornography on Pornhub and other sites operated by parent company MindGeek.Visa CEO and Chairman Al Kelly said in a statement…

Amazon shares climbed more than 12% in extended trading on Thursday after the company reported better-than-expected second-quarter revenue and gave an optimistic outlook.Here are the key numbers: EPS: Loss of 20 centsRevenue: $121.23 billion vs. $119.09 billion expected, according to RefinitivHere's how other key Amazon segments did during the quarter: Amazon Web Services: $19.7 billion vs. $19.56 billion expected, according to StreetAccountAdvertising: $8.76 billion vs. $8.65 billion expected, according to…

Signage for Snap Inc., parent company of Snapchat, adorns the front of the New York Stock Exchange, March 2, 2017 in New York City.Getty ImagesCheck out the companies making headlines in midday trading.American Express — Shares of the credit card company climbed 2.9% as growth in travel and entertainment spending helped American Express beat Wall Street estimates. The company reported $2.57 in earnings per share on $13.40 billion of revenue in the second quarter. Analysts surveyed by Refinitiv had penciled in $2.41 per…

The Netflix logo is seen on their office in Hollywood, California.Lucy Nicholson | ReutersCheck out the companies making headlines in midday trading.Netflix — Shares of the streaming company popped 7.4% a day after Netflix posted a smaller-than-expected subscriber loss in the recent quarter. Netflix reported a beat on earnings but a miss on revenue.Casino stocks — Shares of Las Vegas Sands and Wynn Resorts rose 4.4% and 4%, respectively. The action followed a report from Reuters that Macau will reopen casinos on Saturday…

Check out the companies making headlines in midday trading.Ford Motor — Shares of the carmaker dropped nearly 3% and hit a new 52-week low after the company reported a slight increase in new vehicle sales for the second quarter that missed automotive analysts' expectations. The company said sales rose 1.8% to 483,688 new vehicles in the second quarter compared to a year earlier. Analysts expected the Detroit automaker's sales to rise between 3.3% and 5.1%.Energy stocks — Energy stocks dipped on Tuesday as oil fell 8% and…

FTX is swooping in to buy crypto lender BlockFi for pennies on the dollar, sources told CNBC.The term sheet is almost over the finish line and expected to be signed by the end of the week, according to three sources, who asked not to be named because the deal discussions were confidential. FTX is expected to pay roughly $25 million, one source said, 99% below BlockFi's last private valuation. Another person with direct knowledge of the deal pegged the price closer to $50 million. Jersey City, New Jersey-based BlockFi was…

Check out the companies making headlines in midday trading.Micron Technology – Shares of the chipmaker fell about 6% after the company issued disappointing fiscal fourth-quarter guidance and said weakening consumer demand will hurt smartphone sales. The warning pulled down other chip stocks, which were among the top decliners in the S&P 500. Western Digital and On Semiconductor each lost more than 5%. Nvidia, Qualcomm and Advanced Micro Devices all pulled back by more than 3%.Kohl's — The retailer's stock cratered 21%…

Check out the companies making headlines in midday trading.Spirit Airlines — The budget airline's shares fell more than 7% amid news that advisory firm Institutional Shareholder Services told Spirit shareholders to vote for the proposed merger with Frontier Airlines. It comes after Frontier Airlines upped the cash portion of its offer by $2 a share and increased the reverse break-up fee.Robinhood — Robinhood rose more than 3% after Goldman Sachs upgraded the stock trading company's shares to neutral from sell. That…

Coinbase is laying off almost a fifth of its workforce amid a collapse in its stock and crypto prices.The cryptocurrency exchange will cut 18% of full-time jobs, according to an email sent to employees Tuesday morning. Coinbase has roughly 5,000 full-time workers, translating to a head count reduction of around 1,100 people.Shares of Coinbase closed down .83%.CEO Brian Armstrong pointed to a possible recession, and a need to manage Coinbase's burn rate and increase efficiency. He also said the company grew "too quickly"…

FILE PHOTO: Shoppers exit a Target store during Black Friday sales in Brooklyn, New York, U.S., November 26, 2021. Brendan Mcdermid | ReutersCheck out the companies making headlines in midday trading.Target — Shares of the retailer fell more than 4% after the company said it will take a short-term hit to profits as it cancels orders and marks down unwanted merchandise. CEO Brian Cornell said the big-box retailer wants to clear room for merchandise including groceries and back-to-school supplies.Kohl's — The department…