MLB Trade Rumors: Sifting Through Latest Buzz in Baseball

Major League Baseball's trade deadline is just a day away, as numerous top names continue to float around on the market.

Whether it be a veteran right-hander or an outfielder who has been selected as an All-Star twice, there is still some notable talent lingering around the diamond.

So, as contenders look to contend and pretenders unload solid players for young prospects, here's a look at the latest rumors in baseball, complete with analysis.

Jake Peavy Headed to the Diamondbacks?

As teams go after four-time All-Star and 2007 Cy Young Award winner Jake Peavy this summer, the Arizona Diamondbacks have reportedly emerged as the front-runner for the 32-year-old's services, according to Gordon Edes of ESPNBoston.com.

Edes tweeted on Tuesday:

Peter Gammons tweeted on Monday:

Peavy has gone 8-4 with a 4.28 ERA and 1.14 WHIP, while notching 76 strikeouts in 80 innings pitched this season (13 starts). On the other hand, he missed time this season with a left rib fracture, and he's allowed four earned runs or more in three of his past four starts dating back to May 30 against the Chicago Cubs.

The veteran right-hander posted a 3.37 ERA with a 1.10 WHIP and 194 strikeouts in 219 innings (32 starts) last season. He pitched four complete games, including one shutout.

The Diamondbacks rank 16th in baseball in starters' ERA this season (3.97). They are 54-51, 2.5 games behind the Los Angeles Dodgers for the NL West lead. They are 4-6 since the All-Star break.

Astros Placing Heavy Price Tag on Bud Norris?

According to one scout, the Houston Astros "want a package that begins with a top prospect" for 28-year-old right-hander Bud Norris, per Joel Sherman of the New York Post.

Norris has posted a 3.93 ERA, 1.41 WHIP and 90 strikeouts in 126 innings (21 starts) this season. For his career, he's registered a 4.33 ERA and a 1.40 WHIP.

On the other hand, Norris is due only $3 million this season and he doesn't become a free agent until after the 2015 campaign.

Several teams have been linked to Norris, including the Baltimore Orioles and Pittsburgh Pirates. 

Will Giants Trade Hunter Pence?

The New York Yankees, Cincinnati Reds, Texas Rangers and Pittsburgh Pirates are interested in San Francisco Giants outfielder Hunter Pence, according to Jon Heyman of CBSSports.com.

The Giants reportedly want to re-sign Pence—who becomes a free agent after the season—but they may be convinced to deal him for the right return, according to Ken Rosenthal of FoxSports.com.

Rosenthal tweeted on Saturday:

The two-time All-Star is batting .277 with 14 home runs, 51 RBI, 55 runs and 14 stolen bases in 2013. He's making $13.8 million this season.