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Snapchat's IPO, Tiffany soars and Michael Kors slides

After yesterday's big slide the major indices (^DJI, ^GSPC, ^IXIC) are doing their best to make up for the losses and end the "sell in May" mantra.

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Here are some of the other stories Yahoo Finance is keeping an eye on today.

A tale of two luxury retailers
Tiffany (TIF) shares are soaring as new items and price increases boosted its first quarter profit and sales. Meanwhile, Michael Kors (KORS) stock is plummeting after the luxury apparel seller had its slowest quarterly revenue growth since it went public four years ago. 

Prescription drug costs
Should the price of a prescription drug be tied to its effectiveness? That's what pharmacy benefit provider Express Scripts (ESRX) wants for expensive cancer drugs. Chief Medical Officer Steve Miller telling the Wall Street Journal the company is seeking deals with pharmaceutical firms that would allow for differentiated pricing depending on how well the drugs work on tumors.

No more negotiating?
Social-news site Reddit is among companies that are now banning salary negotiations. Interim CEO Ellen Pao argues it's not fair to women, because research finds they are not as good as men in haggling over pay. Is this growing trend going to change corporate America?

There will be a Snapchat IPO. The only problem is, we don't know when. Founder and CEO Evan Spiegel tells a Re-Code conference the picture sharing app firm needs to go public and has a plan for it.

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