Good evening!

If Kraft Heinz is splitting up, does that mean you have put your ketchup and mustard on separate sides of the hot dog bun?

Here are the 7 things you missed today:

It was a big day for the ChatGPT creators. OpenAI just dropped a blockbuster $1.1 billion all-stock acquisition of product-testing specialist Statsig, which led to some serious executive rearranging. Statsig’s founder, Vijaye Raji, is now the CTO of Applications, heading product engineering for ChatGPT, Codex, and future offerings. Kevin Weil, the outgoing Chief Product Officer, is stepping into a science-first role as VP of OpenAI for Science, and Srinivas Narayanan is transitioning to become CTO of B2B Applications, working alongside COO Brad Lightcap. (Tech Crunch)

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Macy’s just re-themed its outlook from “bold new chapter” to "turnaround confirmed." Q2 net sales hit $4.81B, and adjusted EPS came in at $0.41, both surpassing analyst expectations, even as the year-over-year net sales dipped slightly. As a result, Macy’s raised its full-year sales and earnings guidance, now projecting net sales between $21.15 billion and $21.45 billion and EPS between $1.70 and $2.05. (CNBC)

Some breakups are swift, while others are a slow burn. Ten years after Warren Buffett and 3G Capital brought Kraft and Heinz together, the mega food conglomerate is calling it quits. Kraft Heinz will break into two publicly traded companies: North American Grocery Co. (they’re getting brands like Oscar Mayer and Lunchables in the custody battle) and Global Taste Elevation Co. (they’ll get Heinz ketchup and Philadelphia cream cheese). The move aims to streamline operations and adapt to shifting consumer trends (execs at Kraft Heinz said the company was ‘spread too thin’ with 56 different product categories, and I feel like that would have been a perfect time to insert a condiment pun). (Morning Brew)

Last year, Netflix rolled out “Moments,” a feature in the mobile app that lets users pinpoint the start and end of their favorite scenes and share them with friends. Coinciding with the new season of Wednesday, the update includes a “clip” option on the screen to adjust the length of a segment. Once it’s clipped, the video will save to the viewers’ “My Netflix” tab to rewatch or share later. (CNBC)

Figma’s shares plunged over 14% in extended trading, as markets seemed unimpressed by its second-quarter results. The company reported a 41% year-over-year revenue growth in the second quarter to reach $249.6 million. Still, this performance failed to excite investors, and analysts pointed out that the earnings per share (EPS) fell flat, missing expectations. (CNBC)

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