Tesla on deck, Etsy surges, BHP and Vale hit with $44B lawsuit

Here are some of the stocks the Yahoo Finance team will be watching for you today.  A couple of big mining firms are taking a hit in early trading.

BHP Billiton's (BHP) U.S.-listed shares fell after federal prosecutors in Brazil filed a $44 billion civil lawsuit against BHP and Brazil's Vale (VALE) over the deadly dam disaster at their joint-venture Samarco mine last year. Shares of Vale are also down sharply on the news.

A bidding war may be brewing for Medivation (MDVN) following a Reuters report that Pfizer (PFE) approached the cancer drug maker about a potential takeover. This comes after Medivation rejected a
$9.3 billion offer from rival Sanofi last Friday saying it undervalued the company.

Etsy (ETSY) shares soared in early trading. The online marketplace for handmade and vintage goods delivered its first profit since going public last year. The company earned $1.2 million or a penny a share for the first quarter as its user base grew and revenue soared nearly 40% from a year ago.

Tesla (TSLA) is set to report first quarter results after the close of trading today. Analysts are looking for the luxury electric car maker's loss to widen to $0.58 a share from a loss of $0.36 a share a year earlier, but revenue is expected to rise by nearly 50% to $1.6 billion. Shares of Tesla have outperformed the S&P 500 since the beginning of the year. The stock got a nice boost in early April when CEO Elon Musk announced it received 325,000 preorders for its new Model 3 sedan in the first week.