Trade boards, trade rumors, and wait, an actual NHL trade? The hot stove is heating up as one NHL team starts to get what it needs.

For Philadelphia, the Flyers, once again, played a top-tier NHL team well and lost a close game. A heartbreaking mistake was costly, quite literally leading to the Vegas game-winner, but was that really what cost the Flyers the game?

Is a New Jersey Devils extension aging like milk, before it even kicks in? Finally, another rookie lap for Montreal, and it looks like another bright young star for the Canadiens. How did their latest rookie addition do in his NHL debut?

Get it all on the 12/12 edition of the PhHN Daily!

Philadelphia Flyers

Philly Hockey Now: The Philadelphia Flyers dropped another tight game with a top-tier team, falling 3-2 in overtime to the Las Vegas Golden Knights on Thursday. 5-on-5 play was a strength of the Flyers’ on Thursday. The rest, well, it was questionable.

You can place blame on one specific play in the loss. However, should the Flyers have even let the game make it to overtime in the first place? Rick Tocchet identified the Flyers’ real fatal flaw on Thursday.

And, once again, the kid looked good. Ty Murchison is not making it an easy decision for the Flyers. He surely looks like he belongs in the NHL. Murchison has the size, speed, and physicality to be a good NHL player. With other defensemen nearing return from injury, a decision will have to be made soon. Can the Flyers learn from a similar experience not too long ago?

Vegas Hockey Now: We saw the Flyers game from one lens. Now, let’s look at it from the opposite! Hannah Kirkell wrote her 7 Observations from Thursday’s game.

What do you think of this type of postgame content?

NHL rumors & news

Let’s start with the biggest news coming into Friday.

This is shaping up to be a very big day

There is word is Edmonton is closing in on a pair of deals…

Acquiring Tristan Jarry from Pittsburgh and Spencer Stastney from
Nashville

We will see how it all unfolds.

— Elliotte Friedman (@FriedgeHNIC) December 12, 2025

It looks like Edmonton has its goaltender, acquiring Tristan Jarry from the Pittsburgh Penguins. Per Elliotte Friedman, that might not be the only deal the Oilers make while trying to turn their season around.

Update: Dan Kingerski has the latest on the Penguins trade for Pittsburgh Hockey Now.

ESPN: Trade season has arrived! ESPN’s Greg Wyshynski has released his trade board for this season. Wychynski has many tiers in his trade board, including the “Quinn Hughes” tier, shocking possibilities, elite with term, goalies, and so much more.

One Flyer made the list.

New Jersey Hockey Now: There may be some trouble brewing in New Jersey. The ink has dried on Jacob Markstrom’s two-year, $6 million AAV extension that kicks in next season. However, he has not been playing like the player who earned the extension. Markstrom was pulled quickly in Thursday’s embarrassing loss to the Lightning.

Montreal Hockey Now: Can the Montreal Canadiens get any younger? Well, the answer is yes. Prized goalie prospect Jacob Fowler made his NHL debut on Thursday and dominated in his first career start vs. the Pittsburgh Penguins.

Read More: PhHN Daily: Flyers Dominate; NHL Trade Rumors; PWHL Power Rankings