Morning Market Movers (ORCH, SIMO, HILL, BLTI)

Orchid Cellmark Inc ORCH climbed 38.06% to $2.78 at 9:45 am. Laboratory Corporation of America LH announced its plans to acquire ORCH for $85.4 million or $2.80 per share, representing a 40% premium over ORCH's closing price of $2 per share on Tuesday. Silicon Motion Technology Corp SIMO shares surged 15.42% to $9.13. SIMO's PEG ratio is 0.49. Dot Hill Systems Corporation HILL surged 13.97% to $3.10. HILL announced its plans to launch AssuredSAN video post-production solutions for Apple users at the NAB Show. BioLase Technology Inc BLTI shares advanced 12.19% to $5.43. BLTI projects to report Q1 net revenue of about $10.4 million, up from its earlier guidance of $9.25 million to $9.75 million. Read more from Benzinga's Markets.