Benzinga | Oct 14, 2020 08:31AM EDT

Benzinga Pro's Top 5 Stocks To Watch For Wednesday, Oct. 14, 2020: SNAP, APHA, GME, NVAX, CXO

Today's 5 Stock Ideas:

* Snap (SNAP) - The company will launch lidar-powered augmented reality experiences for iPhone 12 Pro users. Shares were relatively quiet following the news.

* Aphria (APHA) - A cannabis stock with upcoming earnings. Will report Q1 results ahead of the open on Thursday.

* GameStop (GME) - Shares have rallied about 35% since Thursday news of a partnership with Microsoft (MSFT). A Wedbush analyst warned Friday, while "GameStop's Microsoft deal is a positive...it's unlikely to drive meaningful upside." The analyst said "It isn't clear to us that there is any type of 'perpetual' arrangement."

* Novavax (NVAX) - A COVID-19 vaccine play. On Tuesday, the company announced that it was exploring the development of a combined influenza and COVID-19 vaccine which could be used in a post-pandemic setting.

* Concho Resources (CXO) - A potential merger play. Shares traded about 10% higher before market open Wednesday following a report ConocoPhillips (COP) is in talks to acquire Concho.