UPDATE, 1:30: Executive VP Andrew Friedman is heading out in a few hours, and said he felt good about about what the Rays did here, acquiring OF Matt Joyce in exchange for Edwin Jackson, and hopeful they can do more, with their eyes still on a big-name DH.
It appears Milton Bradley and Jason Giambi are atop their list, but they are also interested in Bobby Abreu, Pat Burrell, Adam Dunn and Raul Ibanez. Juan Rivera is another possibility, and Ken Griffey could be in the right situation.
Probably the most interesting thing Friedman said is that he thinks the Rays can be "competitive" in bidding for the free-agent hitters. The Rays have not made a formal offer for any of them, thus far just talking parameters.

UPDATE, 1:25: Former Ray and pride of St. Petersburg RHP Doug Waechter is going to sign a one-year deal with the Royals, and should have a good shot for steady work in their bullpen. Waechter spent much of last season with the Marlins, going 4-2, 3.69 in 48 games.

UPDATE, 12:25: The Rays took one pitcher, Derek Rodriguez from the White Sox organization, and lost one, Eduardo Morlan, in the major-league portion of the draft. Rodriguez is a righthanded reliever who was 5-2, 3.29, with two saves in 49 games for Double-A Birmingham and Triple-A Charlotte.

Quick post before the start of the Rule 5 draft this morning, in which the Rays could lose a couple of pitchers. There's some chatter elsewhere about a couple of players the Rays have interest in, with Bobby Abreu rumored to be headed to the White Sox while the Cubs have Milton Bradley at the top of their list.

The Yankees are looking to add more pitching, with rumors they are working to sign AJ Burnett and could still go after Derek Lowe, and the Red Sox are making a big push for Mark Teixeira.