Investors have largely dismissed the prospect of 25% gross margin on Tesla's Model 3 amid production bottlenecks and quality issues, Berenberg analyst Alexander Haissl tells investors in a research note. He believes the widespread assumption that Model 3 margins can be directly inferred from Model S/X is "inherently almost totally flawed." The analyst thinks the Model S cannot reasonably be seen as the yardstick to measure the profitability of the Model 3. Haissl's analysis indicates that Tesla will eliminate $28,500 of costs from the Model S to produce the Model 3. The Model 3 will be produced with efficiency levels at least on par with best-in-class manufacturers, the analyst contends. He says the Model 3 gross margin target "is not hope, but reality." The analyst raised his price target for Tesla shares to $500 from $470 and keeps a Buy rating on the shares. The stock closed Friday down $7.72 to $276.82.

Tesla (TSLA) is expected to report results on its fiscal first quarter on Tuesday, April 23, with a conference call scheduled for 5:30 pm EDT. What to watch... To see the rest of the story go to thefly.com. See Story Here

Wells Fargo lowered the firm's price target on On Semiconductor (ON) to $95 from $110 and keeps an Overweight rating on the shares ahead of quarterly results. The firm anticipates On to deliver a Q2 guide slightly below expectations as it adjusts to Tesla-specific (TSLA) production softness specific to image sensor and SiC sales.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

General Motors (GM) is scheduled to report quarterly results before market open on Tuesday, April 23, with a conference call scheduled for 8:30 am EST, while Ford (F) is scheduled to report after market close on Wednesday, April 24, with a conference call scheduled for 5:00 pm EST. What to watch... To see the rest of the story go to thefly.com. See Story Here

Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell. From the hotly-debated... To see the rest of the story go to thefly.com. See Story Here

Tesla eliminated a newly formed marketing team as part of its companywide layoffs, reversing course from a traditional advertising push that Chief Executive Officer Elon Musk greenlighted less than a year ago, Ed Ludlow of Bloomberg reports. The company's "growth content" team in the U.S., a group of about 40 employees run by senior manager Alex Ingram, was eliminated in the ongoing job cuts, people familiar with the matter told Bloomberg. Ingram was part of the reduction, one of the people said. The company still has a smaller marketing group in Europe, the source added. There were also significant layoffs in Tesla's design studio and staff located in Hawthorne, California, said the people.

Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Vista... To see the rest of the story go to thefly.com. See Story Here

Friday's total option volume of 56.7 million contracts resulted in net open interest growth of 6.01 million calls and 5.28 million puts. NVIDIA (NVDA), Tesla (TSLA), Apple (AAPL) and Advanced Micro Devices (AMD) saw the greatest growth. Top five new positions opened include 50k Lyft (LYFT) May-24 20 calls, 44k Energy Transfer (ET) 4/26 weekly 16.5 calls, 43k Las Vegas Sands (LVS) Sep-24 41 calls, 23k Tesla (TSLA) 4/26 weekly 162.5 calls and 21k Papa John's (PZZA) Jun-24 57.5 puts.

Chinese automaker Li Auto (LI) has slashed prices by roughly 5% on four of its five models and announced it would refund owners who purchased those models earlier this year, Reuters' Brenda Goh reports, citing the cuts. The company announced cuts of between 18,000 and 30,000 yuan on its L7, Li L8, Li L9, and Li MEGA models, which comes after price revisions by Tesla (TSLA) and BYD (BYDDF). Reference Link