7:37 AM - The trade front has been quiet so far. Last year we saw 25 trades on deadline day, and about 7-10 the day before. There were two moves yesterday. Peter Forsberg made his return to the NHL, signing with the Avalanche. Philadelphia and Tampa Bay made a trade, with Philadelphia acquiring Vaclav Prospal. The addition of Prospal really helps a Flyers team that has lost a lot of their offensive producers to injury.

Tampa Bay has been one of the few teams that is active. Along with getting defensive prospect Alexandre Picard and a conditional draftpick from the Flyers, the Lightning re-signed defenseman Dan Boyle to a 6 year/$40 million contract. Their next move will be to trade Brad Richards.

8:25 AM - The Columbus Post Dispatch is reporting that the Columbus Blue Jackets are one of two finalists to land Brad Richards, with the other team being the Stars. The package Columbus is offering includes Gilbert Brule, Dan Fritsche, and Ole-Kristian Tollefsen, as well as possible draft picks. Dallas is reportedly offering a package containing goalie Mike Smith. Tampa is trading Richards to gain cap space that will allow them to improve their goalie situation. The Tampa Tribune suggests that Dallas is the front runner.

10:29 AM - Ross McKeon at Yahoo Sports is reporting that Brad Richards and Marian Hossa are on the verge of being dealt. Richards would go to Dallas for a package of goalie Mike Smith, center Jeff Halpern, and defenseman Mike Fistric. Montreal could be the winner for Hossa, possibly sending Michael Ryder to Atlanta in the deal.

Craig Custance at the Atlanta Journal Constitution is blogging about Hossa, reporting that Montreal could center a package around center Mikhail Grabovski. Grabovski was drafted by the Canadiens in the 5th round of the 2004 draft, and scored a goal and an assist in 12 games this season with the big club.

10:41 AM - TSN.ca is reporting that New Jersey has traded forward Cam Janssen to St. Louis for defenseman Bryce Salvador.

Analysis: Salvador is just depth for the Devils. They didn't lose much with Janssen, and Salvador is pretty much a rental down the stretch, as he will be a free agent after this season.

10:58 AM - Criag Custance reports that Montreal has called up Mikhail Grabovski, and that he will probably be included in the deal for Hossa. Interesting side note on that deal, those two teams play each other tonight. I wonder if the players involved in the trade would have enough time to join their new team tonight to play their former team?

11:15 AM - Neither Brad Richards nor Marian Hossa are skating today in practice. Richards could be going to Dallas, while Hossa is probably going to Montreal. No official deal has been announced.

11:17 AM - TSN.ca announces that Florida has acquired defenseman Wade Belak from Toronto for a 5th round pick.

Analysis: Another minor deal. Belak has a goal and is -2 in 30 games this year, but has 66 penalty minutes.

11:28 AM - San Jose has acquired defenseman Brian Campbell from Buffalo. No word yet on what Buffalo gets in the deal.

Update: Buffalo gets forward Steve Bernier and a first round draft pick.

Analysis: Campbell has 5 goals and 43 points this season for Buffalo. Bernier was the 1st round pick for the Sharks in 2003, and has 13 goals and 23 points this season. Buffalo was unable to re-sign Campbell, and got a pretty good return.

11:46 AM - The Brad Richards deal has finally gone through. TSN.ca reports that Tampa sends Richards and goalie Johan Holmqvist to Dallas for goalie Mike Smith, center Jeff Halpern, and winger Jussi Jokinen.

Analysis: Two big trades get things heated up. Tampa will save cap space by dealing Richards, and will look to Mike Smith as their starting goalie. Jokinen has 14 goals and 14 assists this year, and Halpern is more of a checking center.

11:54 AM - Washington gets goalie Cristobal Huet from Montreal for a second round pick in the 2008 draft.

1:33 PM - A lot oftrades have been made since my last update. I will be updating live from here on out. A recap of the trades:

-Colorado acquires defenseman Ruslan Salei from Florida for defenseman Karlis Skrastins and a 3rd round pick.
-Carolina acquires forward Tuomo Ruutu from Chicago for forward Andrew Ladd.
-Ottawa acquires forward Martin LaPointe from Chicago for a 6th round pick.
-Colorado acquires defenseman Adam Foote from Columbus for a conditional first round pick. Columbus also gets a pick if Foote re-signs with Colorado. Looks like the Avalanche may actually be getting the 2001 group together.
-Columbus also trades Sergei Federov to the Capitals for defenseman Ted Ruth.
-The Islanders acquire defenseman Rob Davison from the Sharks for a 7th round pick.

Analysis: It looks like we know who the clear cut buyers and sellers are. Columbus has unloaded two big names, Chicago dealt off a few players, and Florida has made minor deals, while holding on to Jokinen. Colorado gave their defense a boost, adding Foote and Salei. Salei has 20 assists and 75 penalty minutes this season, while Foote has 14 assists and 95 penalty minutes. Washington looks to be making a playoff push, addressing their goaltending issues earlier with Huet, and now adding Sergei Federov to help Ovechkin on offense.

2:09 PM - Washington makes another deal, trading winger Matt Pettinger to Vancouver for winger Matt Cooke.

3:11 PM - The Penguins make two big deals, trading for Hal Gill of Toronto, and in a surprise move, landing Marian Hossa. The Penguins sent a second and fifth round pick to Toronto for Gill, and sent Colby Armstrong, Angelo Esposito, Erik Christensen and a first round pick to Atlanta for Hossa and Pascal Dupuis.

Analysis: Two great moves by the Penguins, who add a big physical defender in Gill, and add another talented piece to their offense in Hossa. Atlanta gets a good package in return. Armstrong was the Penguins first round pick in 2001, Christensen has 33 goals in 149 career games, and Esposito was the Penguins first round pick in the 2007 draft.

3:25 PM - The Rangers acquired Christian Backman from the St. Louis Blues for a 4th round draft pick. Minnesota trades a 6th round pick to the New York Islanders for winger Chris Simon.

3:31 PM - Still some deals trickling in. Florida trades a third round pick to Toronto for winger Chad Kilger. Kilger has 10 goals and 7 assists in 53 games for Toronto this season.

3:38 PM - Anaheim acquires Marc-Andre Bergeron from the New York Islanders for a third round pick.

3:43 PM - Phoenix trades Fredrik Sjostrom, Josh Gratton, and David LeNeveu to the New York Rangers for Marcel Hossa and Al Montoya.

3:49 PM - Detroit acquires defender Brad Stuart from Los Angeles for a second and a fourth round pick. Also, in a minor deal, Atlanta trades Alex Giroux to Washington for Joe Motzko.

3:53 PM -  Anaheim trades a seventh round draft pick to Los Angeles for goalie Jean-Sebastien Aubin.  Now Anaheim has two goalies named Jean-Sebastien.

Check back here throughout the day for the latest rumors and updates on the 3 PM NHL trade deadline.