ESPN's Jerry Crasnick is "hearing buzz" about a possible three-way trade that would involve Jake Peavy going to the Diamondbacks and Ian Kennedy going to the Angels. Crasnick isn't sure who would be headed to the White Sox in the deal. The D'Backs are looking like the favorites to land Peavy at this point, though a lot can change before Wednesday's trade deadline. In addition to the Angels, the Padres have also shown interest in Kennedy.

According to CSN New England's Sean McAdam, the asking price is "coming down" on Jake Peavy. The Red Sox, Diamondbacks, Cardinals and A's are all known to have serious interest in acquiring the veteran right-hander, but the White Sox wanted the moon for him initially and are now starting to think more realistically with the July 31 deadline fast approaching. Peavy, 32, has a 4.28 ERA, 1.14 WHIP and 76/17 K/BB ratio in 80 innings this season for last-place Chicago. He is under contract for $14.5 million in 2014 and holds a $15 million player option for 2015.

Gordon Edes of ESPN Boston reports that the Diamondbacks have emerged as the front runner to acquire Jake Peavy from the White Sox. Diamondbacks general manager Kevin Towers traded Peavy to the White Sox four years ago when he was at the helm in San Diego, but he's now looking for a reunion in Arizona. It's not known what the Diamondbacks are willing to offer, but the White Sox have set the bar pretty high in trade discussions. The 32-year-old right-hander is under contract for $14.5 million in 2014.

The White Sox announced that Jake Peavy's next start has been pushed back to Wednesday. That's assuming he's not dealt before the non-waiver trade deadline at 4 p.m. ET. Peavy was scratched from Tuesday's scheduled start, which is an indication that the White Sox are heavily involved in trade discussions.

FOX Sports' Ken Rosenthal reports that the Diamondbacks "may kick the tires" again on White Sox right-hander Jake Peavy. Bob Nightengale of USA Today reported earlier Tuesday that the Diamondbacks had stepped back their pursuit with Brandon McCarthy and Trevor Cahill close to being activated from the disabled list, but they could just be bluffing. Expect lots of conflicting reports over the next 24 hours, but Peavy is a good bet to be moved somewhere.

FOX Sports' Ken Rosenthal reports that there are no current discussions between the Cardinals and White Sox regarding right-hander Jake Peavy. The Cardinals have been mentioned as a possible landing spot over the past couple of weeks, but there's no momentum toward a deal at this point. The Diamondbacks have also been rumored, but Bob Nightengale of USA Today reports that they have dropped out of the running since Brandon McCarthy and Trevor Cahill are expected to return from the disabled list soon. The White Sox have scratched Peavy from his scheduled start on Tuesday, so it still appears likely he'll be moved before Wednesday's deadline.

Chuck Garfien of CSNChicago.com reports that Jake Peavy will not start Tuesday night against the Indians. This confirms a report by Mark Gonzales of the Chicago Tribune. Peavy hasn't been traded yet, but the decision indicates that the White Sox are involved in discussions and don't want to risk the chance of injury. Look for him to be packing his bags before Wednesday's non-waiver trade deadline. Andre Rienzo is expected to be called up to start in Peavy's place on Tuesday.

Mark Gonzales of the Chicago Tribune reports that Jake Peavy is likely to be scratched from Tuesday's scheduled start against the Indians. Peavy hasn't been traded, but this would seem to indicate that the White Sox are getting close to sending him somewhere and don't want to risk the possibility of injury. FOX Sports' Ken Rosenthal reported Monday that the Athletics were moving off Peavy and looking at other options, but the Red Sox and Cardinals are among some of the other teams in the mix. The White Sox are expected to call up Andre Rienzo to start in Peavy's place on Tuesday.

FOX Sports' Ken Rosenthal reports that the Athletics are "off" Jake Peavy and "moving onto other pursuits." Rosenthal says the A's are now targeting bullpen and middle infield help and will dangle some of the players that they would have dealt for Peavy. ESPN's Buster Olney hears that the White Sox are now leaning towards keeping Peavy, though that could just be posturing. The Red Sox and Cardinals have been mentioned as other possible landing spots for the righty.

ESPN's Buster Olney hears that the White Sox are telling teams they will keep Jake Peavy and intend to "build around him." This could be genuine or a last-ditch effort to drive up his trade value. Peavy, 32, is still under contract for $14.5 million in 2014 and has a $15 million player option for 2015.