Puck Daddy's all-day trade deadline coverage rolls on. We're publishing fresh posts every hour with breaking news, fresh rumors and "live blog" analysis. Please share what you've heard and what you think will happen down in the comments. Read Hour 3 here. Be sure to also check out the Chatter Box for the Twitter feeds of top insiders and beat writers all in one spot. Watch Sportsnet's live stream here.
12:54 p.m. ET - The Edmonton Oilers announce that they have traded Tom Gilbert to the Minnesota Wild in exchange for Nick Schultz. Clearly, the Wild are looking to improve their offense from the back-end, while the Oilers are looking to improve their defensive stability. Gilbert is owed $4M a year through 2014, and Schultz is owed $3.5M through 2014 as well, so it's a fairly straightforward swap from a cap perspective.
12:45 p.m. ET - Nick Kypreos reports that the second deal of the day has been made: Mike Commodore has been traded to the Tampa Bay Lightning in exchange for a conditional 7th round pick. What's the condition? That he be taken immediately. To the Milburys:
12:36 p.m. ET - The Columbus Blue Jackets could be busy later. According to Aaron Portzline, senior advisor Craig Patrick says they have "more than 15" offers, but "we don't like any of them yet."
Are any for Rick Nash? No one's talking. Not even Nash, who won't speak to media today (unless he traded, I guess).
12:18 p.m. ET - James Mirtle reports that the impasse in Mikhail Grabovski's contract negotiations is over term. The Leafs are offering four or five years, and he wants more.
Mike Russo weighs in on Brad Staubitz being claimed by the Montreal Canadiens. From the Star-Tribune:
The only Wild news thus far today? Brad Staubitz, sent to the minors earlier this month, was claimed off re-entry waivers by the Montreal Canadiens. Maybe that means the Canadiens, the last-place team in the East, plan to unload a number of forwards today besides Andrei Kostitsyn, like Travis Moen.
The Wild plays in Montreal on Thursday, so Staubitz could be playing his old team very quickly. The Wild is on the hook for half his dollars the final 20 games and half his cap hit, which even I could afford (OK, not quite).
[...] Nick Schultz is in play, another source told me this morning, but again, that doesn't mean he is traded.
12:09 p.m. ET - Mike Russo reports that the Montreal Canadiens have claimed Brad Staubitz on re-entry waivers from the Minnesota Wild. Meanwhile, the Winnipeg Jets have claimed Grant Clitsome on re-entry waivers from the Columbus Blue Jackets.
And Bob McKenzie reports that Brian Rolston (NYI), Eric Boulton (NJD), Ryan Russell (CBJ), Krys Kolanos (CGY) have all cleared waivers.
Pierre Lebrun recently reported that the Predators are going hard after offense in an attempt to prove to their impending free agent defenders that they're serious.
Brian Burke tells TSN that Mikhail Grabovski will absolutely not be traded.
12:00 p.m. ET - Chip Alexander reports that both Jaroslav Spacek and Bryan Allen have left the ice in Carolina, while the other four defensemen remain out, taking shots. Worth a beard stoke at the very least.
Meanwhile, Nashville Predators' GM David Poile has reasserted that impending UFA Ryan Suter isn't going anywhere.
Nothing else is happening.