Axios

Shares of Teleflex dropped 3% today after the medical device maker recalled its endotracheal tubes, which are supposed to help patients breathe. The FDA classified the recall as Class I, the most serious kind, after 4 deaths were linked to the devices.

Yes, but: Teleflex's stock price is up 30% year to date. Medical device fatalities are crushing for patients and their families, but usually are just blips on the stock market.

U.S. restaurants have been a beacon of hope in the moribund brick-and-mortar retail picture, but they now face trouble of their own, analysts at ratings agency S&P Global warn.

What's happening: "Already, cracks are showing across our rated restaurant universe," Diya G. Iyer, S&P's primary credit analyst, wrote in a note to clients Tuesday. Iyer worries rising wages and increasing delivery costs will weigh on fast food restaurants while changing millennial dining preferences will hurt casual dining.

The onslaught of underwhelming U.S. manufacturing data continued as the Richmond Fed reported factory activity barely expanded during the month, reflecting a decrease in the employment index.

By the numbers: Recent Fed data shows negative readings on manufacturing from its regional Dallas and New York bank areas, with the Philadelphia area coming in at 0.3.

Go deeper: Manufacturing is falling fast and hard

Investors are again getting bullish on emerging markets, as the Fed is expected to cut interest rates and the dollar is expected to fall in value. That should mean a strong environment for EM economies to perform.

Yes, but: Things have gotten tougher for many of the world's largest emerging countries, especially Turkey, which finds itself at a major crossroads following elections in Istanbul.

The world’s biggest tech companies have found a new way for marketers to buy video ads that won’t show up next to shady user-generated content.

Why it matters: For a while, advertisers shifted digital budgets away from more expensive ads on premium publisher websites and TV, to cheaper ads at scale on tech platforms, because it was efficient, but that strategy is changing in response to problems posed by running ads against unvetted user-generated content.

Crooked Media, a progressive political media company known primarily for its "Pod Save America" podcast series, is launching a polling partnership with progressive polling firm Change Research, Axios has learned.

Why it matters: Crooked Media has traditionally focused on commentary via podcasts and op-eds, as well as events and its streaming show on HBO, and hopes the polls will provide a boost in the lead-up to the 2020 election.

BuzzFeed Chairman Ken Lerer is stepping down from his role after overseeing the viral internet publisher for over 10 years, according to sources familiar with the matter.

Why it matters: Under Lerer and CEO Jonah Peretti's leadership, BuzzFeed has grown to become one of the largest digital-native publications in the world. It's redefined online publishing as a business and has pioneered news coverage of internet culture and trends.

Top news executives tell Axios that a real "Trump slump" is hitting digital, cable and more.

Why it matters: The shock factor around President Trump's unplanned announcements, staff departures, taunting tweets and erratic behavior is wearing off, and media companies are scrambling to find their next big moneymaker.