TSN's Bob McKenzie reports via Twitter the Montreal Canadiens have called a press conference for 4 pm ET today regarding the management of their team. There's speculation Bob Gainey is stepping down as general manager.

SPECTOR'S NOTE: I'll update this accordingly as more information comes in.

TSN and other sources now confirm Gainey is stepping down and will be replaced on an interim basis by assistant GM Pierre Gauthier.

The Carolina Hurricanes and San Jose Sharks announce the Hurricanes have dealt defenseman Niclas Wallin to the Sharks in exchange for Buffalo's second round pick in 2010.

SPECTOR'S NOTE: My thanks to everyone who sent this in, analysis coming shortly on my blog. It should be noted to those who suggest the Sharks may be pursuing bigger fish that this move pushes them right up against the cap ceiling.

NHL.COM reports the Detroit Red Wings have dealt forward Ville Leino to the Philadelphia Flyers in exchange for defenseman Ole-Kristian Tollefsen and a fifth round pick in 2011.

SPECTOR'S NOTE: Not a surprising move by the Wings as Leino had been rumored on the trade block for a couple of weeks now. It's essentially a salary cap move, shipping out Leino's $800K per season cap hit for Tollefsen's $600K per season. More analysis shortly on my blog.

RALEIGH NEWS & OBSERVER: Chip Alexander reports there's no longer a pending trade of Hurricanes defenseman Niclas Wallin, as the defenseman refused to waive his "no-trade" clause.

SPECTOR'S NOTE: Hat tip to GJ Berg. This is the third or fourth time Wallin has refused a trade over the past three years. Hurricanes GM Jim Rutherford probably regrets the day he agreed to include that clause but it's Wallin's right to invoke it. It was believed Wallin was going to be shipped to the San Jose Sharks, who'll now have to look elsewhere for blueline depth.

TSN.CA reports the Nashville Predators have re-signed checking forward Jordin Tootoo to a two-year contract extension, paying him $1.15 million in 2010-11 and $1.35 million in 2011-12.

SPECTOR'S NOTE: Analysis to follow later today on my blog. An affordable move by the Predators.