Today felt like a mini-me version of yesterday's 180-point DJIA sell-off. Again, thin volume persisted. Perhaps the oil traders got an upper hand on some weather forecasting models, putting Tropical Storm Fay back into the Gulf of Mexico with a very promising 25% chance of happening. This would put the oil infrastructure at risk. A super-high PPI report put wholesale inflation up 1.2% (double estimates) at the highest level since late 2006.

Below are the unofficial closing bell levels:
DJIA 11,348.47 (-130.92)
S&P500 1,266.86 (-11.74)
NASDAQ 2,383.52 (-33.46)
10YR T-Note 3.842% (+0.026%)
52-WEEK LOWS
Top Analyst Calls

Home Depot Inc. (NYSE: HD) showed a 24% decline in earnings with results at $0.71 EPS on a 5.4% drop in revenues to $21 billion. Estimates were $0.61 EPS and $20.6 billion. The home repair supplies and hardware retail beast shares were actually down almost 4% at $25.95 in today's final minutes after the sellers overpowered the bulls at the open.

Lehman Brothers Holdings Inc. (NYSE: LEH) felt the wrath of traders after reports that it would also sell a stake in its Neuberger Berman money management unit and on reports that CEO Dick Fuld was passing down some responsibilities to his #2. Shares were down 13% in today's final minutes.

Media programming and advertising are developing industries in China, suggesting that investments in that arena offer intriguing growth possibilities. Among the more successful competitors so far is an outfit that is headquartered in Beijing.

Xinhua Finance Media Limited (NASDAQ: XFML) is a diversified financial and entertainment media company in China. The firm produces and distributes television and radio programming; sells, creates and places advertising for television and print media; and provides market research services. Its productions reach approximately 210 million television viewers, 125 million radio listeners, over 480 million potential newspaper readers and mobile phone users. The target audience is China's growing population of well-educated, high net worth individuals. Reuters Group (NASDAQ: RTRSY) is a competitor.

Shares in video software company DIVX Inc. (NASDAQ: DIVX) are up about 17% before the open on strong earnings. Stock in Chinese company Xinhua Finance Media Ltd. (NASDAQ: XFML) is 12% higher on news that it will gain SOX compliance with the SEC.

Momenta Pharma (NASDAQ: MNTA) is off over 50% on news that the FDA rejected its generic blood thinner. And shares of content delivery company Limelight Networks (NASDAQ: LLNW) are down 9% on weak guidance for the fourth quarter.

Douglas A. McIntyre is an editor at 247wallst.com.

MOST NOTEWORTHY: Chico's FAS (CHS), Cache, Inc (CACH), JPMorgan Chase & Co (JPM) and National City Corp (NCC) were today's noteworthy initiations:

• Thomas Weisel started Chico's FAS (NYSE: CHS) with a Market Weight rating and $26 target citing near-term mix pressure, lower margin potential and lower square footage growth.

• Thomas Weisel also initiated shares of Cache, Inc (NASDAQ: CACH) with an Overweight rating and $21 target, citing a significant sales opportunity driven by new categories and demographics.

• AG Edwards believes the risk/reward for JP Morgan & Chase Co (NYSE: JPM) is balanced, assuming coverage with a Hold rating.

• Lehman resumed coverage of National City Corp (NYSE: NCC) with an Overweight rating and $41 target...

OTHER INITIATIONS:

• Montgomery & Co initiated SiRF Technology Holdings Inc (NASDAQ: SIRF) with a Buy rating and $32 target.

• Merriman initiated shares of Aware, Inc (NASDAQ: AWRE) with a Buy rating.

• Xinhua Finance Media Ltd (NASDAQ: XFML) was started with a Buy rating at W.R. Hambrecht.

• Matrix USA initiated shares of Florida East Coast Industries Inc (NYSE: FLA) with a Strong Sell rating.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Xinhua Finance Media Ltd. produces financial content for TV, print and radio. It's TV operation has the biggest reach, with about 210 million potential viewers.

Now the company plans to do an IPO in the US. The offering involves the issuance of 23.1 million shares at a price range of $12 to $14 per share.

The company has production studios in Beijing and Shanghai, where it develops television shows like New Fortune Weekly -- a comprehensive coverage of the Chinese economy -- and Fortune People, which is a talk show. There are even dramas, such as Floating Dust about the hardships of life.

Xinhua has also been striking deals with U.S. media partners, including Dow Jones & Co., Inc. (NYSE: DJ). No doubt, the IPO should help with these efforts.

In 2006, the company posted revenues of $58.9 million and net income of $3.3 million. Yes, it is looks small, but of course, as China's population becomes more affluent, Xinhua should continue to grow.

The proposed ticker symbol is "XFML" and the underwriters include JPMorgan Chase & Co. (NYSE: JPM) and UBS Investment Bank (NYSE:UBS).

You can check out the prospectus at the SEC web site.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.