Benzinga | Sep 17, 2020 08:22AM EDT

Benzinga Pro's Top 5 Stocks To Watch For Thursday, Sept. 17, 2020: ILMN, AVGO, SUMO, XHB, VUZI

Today's 5 Stock Ideas:

* Illumina (ILMN) - Shares sold off on Wednesday amid a report the company is in talks to buy cancer-testing startup, Grail. Grail has support from both Jeff Bezos and Bill Gates.

* Broadcom (AVGO) - A potential play on the new Apple (AAPL) Series 6 Watch. A B. Riley analyst on Wednesday spoke with management of AXT Inc. (AXTI), the company believed to be one of the suppliers of LEDs for the blood-oxygen monitoring in Apple's new watch. The analyst highlighted a comment from AXTI management that suggested the company wasn't sure if their substrates were involved in that LED application. The B. Riley analyst suggested Broadcom could be one of the other suppliers for an aspect creating function for those LEDS, known as gallium arsenide (GaAs) substrates.

* Sumo Logic (SUMO) - An IPO today. Sumo Logic is a software company focused on what it calls a new category of software, continuous intelligence. The IPO priced at $22 per share.

* SPDR S&P Homebuilders ETF (XHB) - Watch this ETF which tracks the housing market and homebuilding stocks amid 8:30 a.m. EDT data on building permits and housing starts Thursday.

* Vuzix (VUZI) - The stock saw volatility Wednesday afternoon following news of a multi-year deal by Facebook (FB) and EssilorLuxottica for smart glasses. As Vuzix has been a smart glasses play for years, traders likely viewed this industry news as potentially notable for the company.