Companies to Watch: Alcoa to restructure, San Francisco may acquire PG&E, Apple may invest in camera tech

Here are the companies the Yahoo Finance team is watching for you today.

Alcoa (AA) is planning to restructure itself. The aluminum producer will eliminate its business unit structure while consolidating other departments. The company says it's still working out the financial details, but it expects to announce the changes at the end of the third quarter.

San Francisco is offering to buy PG&E's (PCG) electrical grid for $2.5 billion. In January, the utility company filed Chapter 11 bankruptcy as it faced mounting liability for wildfires sparked by its equipment, while PG&E is reportedly considering the offer.

With iPhone sales lagging, Apple (AAPL) looks to be investing in its camera technology. Apple holds its annual event tomorrow at its headquarters in Cupertino, California, and the tech titan will reportedly take the wraps off new phones with additional rear cameras and enhanced capabilities for shooting in low light as well as faster processors.

Thousands of British Airways passengers are grounded after British Airways canceled nearly all of its flights. The cancelations are happening today and tomorrow because of a pilots strike. Both sides are reportedly at odds over employee pay. Talks are still ongoing.

“It: Chapter Two” floated to a nice opening weekend. The Warner Brothers (T) movie brought in $91 million. That's the second highest for a horror movie, only to be outdone by the franchise's first installment. The sequel was expected to bring in over $100 million. Some blame Hurricane Dorian for the lower box office numbers.