Media Digest 8/2/2007 Reuters, WSJ NYTimes, FT, Barron's

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According to Reuters, auto sales in the US dropped in July and imports took more than 50% of the market for the first time as sales dropped shsrply at GM (GM) and Ford (F).

Reuters writes that net income at the third largest PC company moved up and unexpected 13x.

Reuters writes that first half earnings at France Telecom (FTE) beat forecasts.

The Wall Street Journal writes that Mattel (MAT) is recalling almost one million toys because of lead paint problems. Most of the products were maid in China.

The WSJ reports that Google (GOOG) is working with handset companies and cell service providers to offer phones loaded with the search company’s software.

The Wall Street Journal writes that Wal-Mart (WMT) is expanding is successful push into consumer electronics.

The Wall Street Journal writes that shares in Mastercard (MA) dropped as investor expressed concerns about future growth.

The New York Times reports that Disney (DIS) reported better earnings and bought Club Penguin, a site aimed at pre-teens.

The FT reports that US mortgage problems hit a large financial institution in Germany.

Barron’s reports that Bank of America put a price target orf $160 a share on Apple (AAPL).