Stocks Fall To Session Low (MDVN, IP, WMT, SYNC, ARTC, TSO)

U.S. slumped to session low after the U.S. added less than estimated jobs in the latest month.
The U.S. added just 69,000 jobs in May, the smallest net increase in nonfarm payrolls a year, the government reported. Economists surveyed by MarketWatch expected a 165,000 increase. Growth figures in payrolls were also revised lower for April and March.

May’s unemployment rate, meanwhile, rose to 8.2% from 8.1%, mainly because more people entered the labor force even as hiring slowed. Read more on the jobs data.The Dow Jones Industrial Average slid 222.74 (-1.80%) to 12,170.71, and the Standard & Poor's 500-stock index lost 26.28 (-2.01%) at 1,284.05. The Nasdaq Composite declined 63.09 (-2.23%) at 2,764.25.​

Medivation, Inc.(NASDAQ:MDVN) slid 2.30% to $82.29 on reports of a negative article in TheStreetSweeper this morning. The report says the stock's high valuation fails to take into account smaller-than-anticipated sales and a limited market, heavy competition and a poor workin

International Paper Company(NYSE:IP) fell 3.32% after the company says it will sell three U.S. containerboard mills valued at a combined $470M in sales mandated by the Justice Department as a condition for IP's acquisition of Temple-Inland. In reiterating its Buy rating, Deutsche Bank says the $470M figure is considerably better than its expectations of $300-$450M.

Wal-Mart Stores, Inc.(NYSE:WMT) slid 0.47% to $65.51. The company says that shareholder resolutions seeking sweeping board changes have failed to gather a majority. The company will file vote totals with the SEC on Monday.
Synacor Inc(NASDAQ:SYNC) plunged 16% to $12.35 as Stifel Nicolaus cut the shares to Hold, Citi lowers it to Neutral and BofA Merrill Lynch to Underperform.

ArthroCare Corporation(NASDAQ:ARTC) was up marginally after y after William Blair upgraded the shares to Outperform on valuation. The firm says that it's takeaway from meetings with managment indicate a potential upside to estimates.

Tesoro Corporation(NYSE:TSO) rose 3.35% after being upgraded to Buy from Neutral with a target price raised to $33 from $30 by UBS, which says West Coast refining margins have recovered during Q2 on lower PADD-5 refinery utilization rates and tightening product inventories. Coupled with potential asset monetizations in H2 and 2013, the firm says TSO's FCF yield could improve to 26%.