ALCOA (AA $14.98, rating Overweight, Price Target $18) WE WILL BUILD ABOUT 100 MM NEW SHARES, FIRTH-RIXSON, YTD $0.19 PREMIUMS, UPDATED ALUMINUM SUPPLY-DEMAND AND 2Q RESULTS AFTER JULY 8TH CALL 7/3/2014

ALCOA (AA $14.98, rating Overweight, Price Target $18) WE WILL BUILD ABOUT
100 MM NEW SHARES, FIRTH-RIXSON, YTD $0.19 PREMIUMS, UPDATED
ALUMINUM SUPPLY-DEMAND AND 2Q RESULTS AFTER JULY 8TH CALL 7/3/2014