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Troubled regional bank First Republic said Monday that its deposits fell 40.8% to $104.5 billion in the first quarter, which saw the collapse of two other mid-sized banks and sparked fear from customers about widespread bank failures.

The deposit flight at First Republic was worse than Wall Street expected, with analysts estimating the figure at the end of the first quarter to be about $145 billion, according to the consensus estimate from FactSet’s StreetAccount. Analysts’ deposit estimates ranged from $100 billion to $206 billion, according to FactSet.

First Republic said Monday that deposit flows have since stabilized.

“Deposit activity began to stabilize beginning the week of March 27, 2023, and has remained stable through Friday, April 21, 2023. Total deposits were $102.7 billion as of April 21, 2023, down only 1.7% from March 31, 2023, primarily reflecting seasonal client tax payments that occur each April,” the release said.

The deposit figure for the end of March included $30 billion in time deposits from 11 larger banks that was announced on March 16 in an attempt to stabilize the broader banking system. If those deposits were excluded, First Republic’s deposits would have fallen by more than 50%.

“I would also like to reiterate our appreciation for the group of America’s largest banks who placed $30 billion in uninsured deposits with us, as well as for our state and federal regulators who have continued to provide us with expert support,” CEO Michael Roffler said on the earnings call.

Roffler also said that First Republic has maintained over 97% of “client relationships” from the start of the quarter despite the outflows. He did not provide further detail on that point, and took no questions on the call.

As part of its earnings release, First Republic announced that it was cutting expenses through reductions in executive compensation, condensing office space and cutting head count by 20% to 25% in the second quarter.

First Republic also said in the release it is “pursuing strategic options to expedite its progress while reinforcing its capital position.” The shares, which jumped 12% during regular trading, were off about 20% in extended trading.

This post appeared first on NBC NEWS

About 4,000 employees of Silicon Valley Bank are set to receive $25 million that has been trapped for weeks in an employee stock purchase program, according to the Federal Deposit Insurance Corp.

An FDIC spokesperson confirmed to NBC News on Tuesday that the money will be remitted to employees “shortly.” The payouts won’t require tapping the government’s deposit insurance fund that was used to save SVB depositors, because it concerns funds held by the bank prior to its collapse.

The agency’s move ends a month and a half of uncertainty for employees of the failed lender after government regulators shut it down March 10 and backstopped all SVB deposits days later.

But regulators’ efforts to wind down the bank, whose assets Raleigh, North Carolina-based First Citizens Bank purchased on March 27, didn’t initially address the employee stock purchase plan that had allowed SVB employees to contribute as much as 10% of their earnings (up to $25,000) into a fund that would buy the company’s stock at a discount.

Per the plan’s schedule, the fund is tapped every six months to purchase stock for the participating employees. SVB was in the middle of those purchase times when it collapsed, at which point its publicly traded stock ceased to exist.

First Citizens’ purchase of SVB assets didn’t include the ESPP funds. Instead, those payroll contributions have sat on the balance sheet of the failed lender’s holding company, known as SVB Financial Group, as an “accounts payable” ever since.

Three current SVB employees, who weren’t authorized to speak publicly about internal compensation matters, told NBC News that ambiguity over the fate of staffers’ ESPP contributions fueled worries that they had lost that money for good. One of the employees said he has over $20,000 locked up in the program.

Some current staffers raised concerns in recent weeks to the human resources department. Bank officials responded last week that they were aware of the situation and were working with SVB Financial Group and the FDIC on a resolution, without giving a timeline, according to communications seen by NBC News.

First Citizens declined to comment Tuesday.

The FDIC spokesperson acknowledged that the handling of the ESPP funds has been a lingering issue since it stepped in to resolve the second-largest bank failure in U.S. history. (Bloomberg earlier reported the agency’s planned move on Tuesday.)

All three employees said they had yet to receive internal communications about the resolution as of Tuesday afternoon, although the FDIC spokesperson said they would be notified soon.

“I’m skeptical until I actually have those funds,” one of the SVB staffers said Tuesday, but added, “If that holds true, I am absolutely relieved to say the least.”

This post appeared first on NBC NEWS

First Republic Bank’s stock nearly halved in value Tuesday, a day after it reported an exodus of deposits in the first quarter.

Trading of First Republic shares was halted several times on the New York Stock Exchange on Tuesday. They ended the session at $8.10, down roughly 49%.

First Republic, based in San Francisco, reported Monday that it lost almost $72 billion in deposits from Dec. 31 to March 31. The drop of more than 40% drop despite a $30 billion infusion from 11 rival lenders on March 16 as the government and the private sector sought to head off a broader banking crisis.

While analysts say the exodus of deposits from regional and midsize banks has largely stopped, the latest troubles at First Republic show that broader industry concerns haven’t dissipated.

“Anecdotally, we hear that the volatility with deposits is not nearly the same as what it was” immediately after Silicon Valley Bank and Signature Bank imploded in March, said Mark Hamrick, a senior economic analyst at Bankrate, a consumer-finance data provider.

But some industry experts say signs of relative stability in recent bank earnings belie other concerns, particularly for commercial lending. Last week, Moody’s downgraded 11 regional banks, including U.S. Bank and Western Alliance, asking “whether some banks’ assumed high stability of deposits, and their operational nature, should be reevaluated.”

On First Republic’s earnings call Monday evening, CEO Mike Roffler sought to reassure investors that the worst bleeding was over. “Beginning the week of March 27, our deposits stabilized, and they have remained stable since that time,” he said.

First Republic’s deposit travails remain an outlier so far, with most banks reporting only modest outflows in recent weeks. Earnings reports for the latest quarter showed U.S. banks’ losing roughly 5% in deposits on average this year, according to a Goldman Sachs Research note Sunday.

“Most are now less concerned about future outflows,” Goldman said, although some banks warned that their industry isn’t completely out of the woods.

Some banks expect more deposits to come into their doors in the next few quarters, while others are signaling that funds could continue to go out. KeyCorp, one of the 20 largest U.S. banks, said it expects deposits to be flat or down by 2% over the course of 2023.

Expectations for further interest rate increases from the Federal Reserve, which is set to announce its next rate decision on May 3, continue to add to jitters on Wall Street.

A March 23 working paper from analysts affiliated with the National Bureau of Economic Research warned that smaller banks with uninsured deposits were more vulnerable to insolvency in a high-interest rate environment.

While some depositors who pulled money out of their banks may have done so amid fears linked to the SVB collapse, some regional lenders have said deposit outflows may also reflect consumers’ shopping for higher interest rates. That trend is increasingly pushing banks to pay more to hold on to their customers’ deposits and attract new ones.

Meanwhile, economists are monitoring the lending environment for small and midsize businesses for signs of a potential credit crunch. Small and regional banks are responsible for at least 70% of all commercial and industrial loans made to small firms, said Joe Brusuelas, the chief economist at the consulting firm RSM.

As access to credit among Main Street businesses contracts, he said, he worries that the flurry of layoffs announced by name-brand companies — cuts that so far have been tilted toward higher-paid workers in tech and finance — could creep further into other industries, such as leisure and hospitality.

“Tighter credit tends to cause the economy to slow and unemployment to rise,” Brusuelas said.

This post appeared first on NBC NEWS

Deion Sanders issued several warnings about his roster strategy after his hiring at Colorado in early December.

The Buffaloes’ new football coach has told his inherited players that “we’re going to try to make you quit,” that “we’re gonna move on” from some players and that he wanted them to “get ready to go ahead and jump” in the transfer portal to leave.

On Saturday after his first spring game in Boulder, the threat grew more imminent:

“We’ve got to make some decisions,” he said. “That’s gonna be on me now.”

Then came Sunday and Monday, when at least 18 Colorado players said they were headed for the exits, as of Monday afternoon.

It’s not clear how many were nudged out the door by Sanders and his staff or how many decided to leave on their own, because there were some individual surprises. Receiver Montana Lemonious-Craig, who had a big spring game on Saturday, was among those saying they were entering the transfer portal, which remains open until April 30.

“You all know we’re gonna move on from some of the team members, and we gonna reload,” Sanders said Saturday after he concluded his spring practice season. “We’ve got to get some kids we really identify with, so this process is going to be quick. It’s going to be fast, but we gonna get it done.”

This is not an alarming or unexpected exodus. It is instead part of an unprecedented roster overhaul in which Sanders is bringing in dozens of transfer players to win now and revamp a program that finished 1-11 last season. To make room for the newcomers under the 85-scholarship roster limit, he needs a number of his inherited players to leave the team, one way or another.

Sanders talked about this in his first team meeting at Colorado in December, when he told his inherited players, ‘I want you all to get ready to go ahead and jump in that portal.’

Sanders started the spring with 51 scholarship players who were on last year’s team, but 31 of them already have opted to leave.

All of the players leaving were part of a program that has had only two winning seasons in the past 17 years. That includes two talented players who led the team in catches last year: Lemonious-Craig (23 catches for 359 yards) and Jordyn Tyson, who had 22 receptions for 470 yards before suffering a season-ending knee injury in November.

“This was not an easy decision, but one that I have thought long and hard about,” Tyson said in a message posted on Twitter Monday.

Running back Deion Smith was Colorado’s leading rusher last year but also said Monday he was entering the portal. He rushed 83 times last year for 393 yards.

“I will be entering the portal as a graduate transfer,” Smith said on Twitter. “God makes no mistakes.”

While those players are leaving, many others are already coming. In February, Sanders announced a class of 42 newcomers, including 21 players from other four-year colleges who already transferred in for the spring semester. More are expected to commit before the start of fall practice.

The Buffaloes’ recruiting class of 29 transfers for 2023 ranks No. 1 nationally, largely by virtue of its size as the biggest in the nation, according to 247Sports. By the fall, more than 60 of Sanders’ 85 scholarship players could be newcomers. 

“The team that we’re playing with now is not the team that we’re going to play with in Texas the first game,” Sanders said April 8.

Colorado opens the season at TCU Sept. 2.

Follow reporter Brent Schrotenboer @Schrotenboer. E-mail: bschrotenb@usatoday.com

This post appeared first on USA TODAY

It’ll only be another 200 or so days until Michigan meets Ohio State, this time back in Ann Arbor.

The annual game of the year in the Big Ten has become even more impossible to miss given the stakes at play following Michigan’s revival under coach Jim Harbaugh. The Wolverines have won two in a row in the series, riding these wins to back-to-back Big Ten championships and College Football Playoff berths.

Michigan is a key player in two of the biggest questions this spring in the Power Five:

Can the Wolverines take the next step and win the national championship? Or can Ohio State rebound without star quarterback C.J. Stroud and return to the top of the conference?

Meanwhile, the Big Ten has a third major player in Penn State, which is back on the national map after last year’s Rose Bowl win and could be lifted to new heights by projected starting quarterback Drew Allar given his potential to open up the offense with a more dynamic passing game.

With spring football almost complete, here’s how the Big Ten stacks up with one lingering question for each team:

1. Michigan

Will transfers boost the offensive line?

The Wolverines hit a home run last season with the addition of Virginia transfer Olusegun Oluwatimi, one of the nation’s top centers as a junior and senior. This year’s offensive line could have three Power Five transfers in the starting lineup. One is left tackle LaDarius Henderson, though he’s yet to arrive on campus from Arizona State. Stanford transfers Drake Nugent and Myles Hinton are also in the mix, with Nugent the favorite to take over for Oluwatimi at center.

2. Ohio State

Who takes over at kicker?

Two-year starting kicker Noah Ruggles connected on 37 of 41 field goals for the Buckeyes, though his reliability after transferring from North Carolina has been overshadowed by his 50-yard miss in the final seconds of last season’s loss to Georgia. One contender to replace Ruggles has already transferred in Jake Seibert, leaving two options heading into the summer: Parker Lewis, a former Southern California transfer, and walk-on Jayden Fielding.

3. Penn State

Is Allar the missing piece? 

Allar will be the Nittany Lions’ replacement for Sean Clifford after tossing four touchdowns in reserve duty as a freshman, even if James Franklin might not name an official starter until closer to the season opener. He represents the possible missing piece for an offense and broader program that has made multiple runs at the playoff but been edged out by Ohio State and Michigan. 

4. Iowa

Can the offense average 25 points per game?

That’s the magic number for offensive coordinator Brian Ferentz, at least, after he agreed to a reworked contract that requires a minimum of 25 points per game in 2023. The mandate makes sense: Iowa has allowed more than 24 points in a game four times in the past two seasons, losing each game. While it’s unlikely that Ferentz and Iowa reinvent the wheel offensively, the Hawkeyes will be boosted by the arrival of Michigan transfer Cade McNamara at quarterback. He should be a major improvement.

5. Wisconsin

Will the Badgers go all-in on the Air Raid?

After years of success relying on an old-school approach, Wisconsin will embrace an offense with Air Raid concepts under new coach Luke Fickell and coordinator Phil Longo. There’s obvious interest in seeing how Fickell, Longo and the Badgers marry this new approach with the physicality that has defined the program for three decades. But will there even be a blending of styles, or will Wisconsin run an undiluted version of Longo’s scheme? Indications from the spring suggests there will be drastic departure from the norm.

6. Minnesota

Can Minnesota get more at receiver?

Chris Autman-Bell is expected to return this summer after suffering a season-ending leg injury last September. Minnesota also brings back Daniel Jackson after his strong close to 2022, which included 159 receiving yards and three touchdowns in wins against Wisconsin and Syracuse to end the season. But the Gophers need much more from the position to balance out the offense. Look for transfers Corey Crooms (Western Michigan) and Elijah Spencer (Charlotte) to contribute from the start, with Crooms on track to grab the starting role in the slot.

7. Maryland

Could both lines be Maryland’s downfall?

There are reasons to highlight the Terrapins as a possible breakout team in 2023, including of the Big Ten’s top collections of skill talent headlined by veteran quarterback Taulia Tagovailoa. The issue could be line play: Maryland has to rebuild up front on both sides of the ball, with the defense taking another hit this spring with the transfer of projected starter Tank Booker.

8. Michigan State

Can the freshmen get to the quarterback?

The Spartans will try to reboot the defensive line with several impressive newcomers. This includes Florida State transfer Jarrett Jackson and Liberty transfer Dre Butler, who will contribute on the interior. It’s on the edge that Michigan State is leaning on freshmen to beef up a pass rush that finished sixth in the Big Ten last season with 29 sacks. Four-star signees Bai Jobe and Andrew Depaepe are already on campus; Jalen Thompson will arrive this summer. Ken Talley is eligible after redshirting last season following his transfer from Penn State. The biggest addition is Texas A&M transfer Tunmise Adeleye, who has the frame and athleticism to earn all-conference honors.

9. Illinois

What’s up in the secondary?

Illinois’ defense brings back seven starters from one of the nation’s top units but will have a new coordinator in Aaron Henry, who was promoted from his role with the defensive backs to replace new Purdue coach Ryan Walters. But the losses in the secondary may be hard to overcome. Illinois has to find a way to match the production of former starters Devon Witherspoon and Sydney Brown, two of the nation’s very best in 2022.

10. Nebraska

How deep is the rotation at running back?

While questions persist about the depth and quality of the offensive line, Nebraska expects to run the football effectively under first-year coach Matt Rhule and running backs coach E.J. Barthel. (This is especially true if Georgia Tech transfer Jeff Sims is the starting quarterback.) Barring transfers, the Cornhuskers will have four players fighting for snaps in former Florida State transfer Anthony Grant, junior Rahmir Johnson, sophomore Gabe Ervin and redshirt freshman Ajay Allen. 

11. Purdue

How good is the marriage of OC Graham Harrell and QB Hudson Card?

New Purdue coordinator Graham Harrell takes over an offense that loses three huge pieces in quarterback Aidan O’Connell, wide receiver Charlie Jones and tight end Payne Durham. In comes Texas transfer Hudson Card, who started multiple games the past two seasons with 11 touchdowns and just two interceptions. Early feedback this spring has been positively glowing: Card has been singled out by teammates for his production, command and leadership qualities during the transition to a new staff.

12. Rutgers

Will increased depth lead to more consistency?

To cite one position, Greg Schiano now believes Rutgers has the depth on the offensive line to run the ball more consistently in conference play; last season, the Scarlet Knights ran for 682 yards on 4.9 yards per carry against non-conference competition and 856 yards on 2.9 yards per carry against the Big Ten. There’s similar optimism at running back and linebacker, where Mohamed Toure and Moses Walker return from injury. There are even some nice pieces at wide receiver, including a very promising youngster in sophomore Rashad Rochelle, though Rutgers does lose its top three at the position.

13. Indiana

Can they put the pieces together in the secondary?

A huge influx of transfer talent will support a defense that brings back just two starters — though that may not be a bad thing given the Hoosiers’ recent defensive swoon. After making 17 interceptions to spark a memorable 2020 season, Indiana has given up a combined 54 touchdowns against just 12 picks the past two years. Last year’s group was one of just three nationally in allow 30 or more touchdowns and at least 8 yards per pass attempt. 

14. Northwestern

Can this offense and defense get out of the cellar?

Northwestern’s defense ranked 10th nationally in yards per play in 2020, when the Wildcats reached the Big Ten championship game, offsetting an offense that ranked 110th in the same category. The defense plummeted to 106th nationally in 2021 but rebounded to 68th last season. Offensively, Northwestern ranked 120th and 123rd, respectively, the past two years and won four combined games. There’s more to like from the Wildcats’ defense heading into this season but continued concerns over an offense that brings back only a handful of starters and loses one of the nation’s best players in left tackle Peter Skoronski. 

This post appeared first on USA TODAY

The Cincinnati Bengals have picked up quarterback Joe Burrow’s fifth-year option for the 2024 season, according to NFL Network’s Ian Rapoport.

By picking up Burrow’s fifth-year option, it gives the Bengals an insurance policy if contract negotiations take longer than expected.

If Burrow plays the 2024 season on his fifth-year option with no long-term deal in place, he will make $29.5 million. The deadline to exercise the fifth-year option for 2020 first-round picks is May 2. 

With the move, Burrow joins fellow 2020 draft mate Tua Tagovailoa after the Miami Dolphins announced in March they would be picking up the quarterback’s fifth-year option. The Minnesota Vikings also announced Tuesday they had picked up All-Pro wide receiver Justin Jefferson’s fifth-year option.

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The fifth-year option on rookie contracts for former first-round picks gives teams the choice to extend that deal from four years to five. It is most often used when a team wants to ensure their first-round pick remains on the team for at least one more season while allowing negotiations to continue.

This prevents Burrow from becoming a free agent next March if he and the Bengals don’t come to an agreement on a long-term deal before then.

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Notre Dame quarterback Tyler Buchner, still nominally in a battle with Sam Hartman but having been drastically outplayed in the Blue-Gold Game, will enter the transfer portal.

A redshirt sophomore who returned from shoulder surgery to win MVP honors in the Gator Bowl, Buchner made the announcement on social media Tuesday.

Buchner said the step, which comes in advance of an April 30 deadline to enter the spring transfer portal for undergraduates, was taken “in order to explore my options, and decide what is best for my future.”

Buchner cited discussions with Notre Dame coach Marcus Freeman and said via Twitter that “remaining at Notre Dame is thankfully an option I’m continuing to consider.”

Hartman, a graduate transfer from Wake Forest, went 13 for 16 passing for 179 yards and two touchdowns in the Gold’s 24-0 win on a rainy Saturday at Notre Dame Stadium. Hartman, who turns 24 in late July, added a rushing touchdown in a nearly flawless showing.

Buchner, however, struggled mightily in going 8-for-18 passing for 44 yards and an interception. Buchner, who started three games last season and is more of a running threat than Hartman, also was sacked twice.

Freeman, perhaps with the portal deadline in mind, refused to name, at least publicly, a starting quarterback even after the disparate showings.

“We still have a quarterback battle,” Freeman said after the Blue-Gold Game. “You can’t determine a winner and loser based off one practice, practice 15. There’s a lot that goes into it: a quarterback battle but also quarterback play. …

“Everybody’s going to praise Sam for how he played today and they’re going to criticize Tyler. They both probably played pretty well. I know the stats might not say it, but both of them are tremendously talented.”

Drew Pyne, who went 8-2 as Buchner’s injury replacement last season, transferred to Arizona State in December.

Steve Angeli, a redshirt freshman who took seven game snaps but had no pass attempts in 2022, is the third-string quarterback. Angeli went 8 for 12 passing for 72 yards but was sacked four times on Saturday.

Buchner has three years of eligibility remaining.

This post appeared first on USA TODAY

The Dallas Mavericks made a blockbuster trade for Kyrie Irving in hopes it would put their championship hopes over the top. Instead, they plummeted in the standings and missed the playoffs altogether. 

Former Mavericks guard Vince Carter kept a close eye on his former team, both before and after the trade. In an interview with the Fort Worth Star-Telegram, Carter gave his honest assessment.

‘I didn’t like it,’ Carter said, ‘and it has nothing to do with Kyrie. I didn’t like how much they had to give up to get him.’

Carter said the trade cost the Mavericks their best defensive player (Dorian Finney-Smith) and forced star Luka Doncic to work even harder on the defensive end.

‘I do think (Kyrie Irving and Luka Doncic) can work, the two of them together. But I feel the issue is the roster; that’s the problem,’ Carter said.

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An eight-time All-Star, Carter understands how tough it can be to fall short. In his 22 NBA seasons, he never won a championship.

Putting the right players together is not an easy task.

‘If you put a better roster around those guys then you can see if it’s a roster that is willing to do whatever, and buy in,’ he said. ‘If you start out, and you’re not very good, after a while it’s, ‘I’m going to get mine. I’m going to get my numbers.’ To hit (contract) incentives …

‘That’s the issue you fall into when you’re not winning.’

Carter says it’s up to coach Jason Kidd to figure out a way to maximize his two stars’ strengths – with Irving running the point and Doncic at the center of the offense.

‘If Kyrie is willing to allow Luka to do that to get him started, now Kyrie can be that with the second unit and be a more ball dominant guy and rotate it that way,’ Carter said.

‘Then, in the fourth quarter you just have to figure it out.”

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The Toronto Maple Leafs’ first-round struggles seemed to be returning again Monday night.

Up 2-1 in the series against the Tampa Bay Lightning, they found themselves down 4-1 after two periods. The Lightning had put on a defensive clinic in the first period. Goalie Andrei Vasilevskiy, who wasn’t his usual stalwart self in the first three games, had stopped 18 of 19 shots. Defenseman Victor Hedman appeared to be in his pre-injury form.  

But the Maple Leafs rallied to win 5-4 in overtime on an Alexander Kerfoot power-play goal and grabbed a 3-1 series lead. Toronto can knock off the Lightning at home on Thursday when Michael Bunting is eligible to return from his three-game suspension.

‘Maybe there was just a little bit of mindset of we’ll just close this one out, but obviously Toronto had different ideas,’ Lightning coach Jon Cooper said. 

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The Lightning are far from out because they have overcome adversity during their three consecutive trips to the Stanley Cup Final and the Maple Leafs haven’t escaped the first round since 2004.

But Toronto is clicking because its stars are. Auston Matthews scored twice on Monday, giving him seven points in four games. Mitch Marner (two assists) and William Nylander (three assists) continued their strong play. Morgan Rielly scored the tying goal after getting the overtime winner in Game 3. Trade deadline acquisition Ryan O’Reilly, who had tied Game 3, had two assists Monday and made several strong defensive plays.

The Lightning, meanwhile, have blown second-intermission leads in back-to-back games after going 28-1-2 in the regular season when leading entering the third period. And in the biggest surprise, Vasilevskiy has a 4.33 goals-against average and .856 save percentage.

Which other teams find themselves in trouble?

New York Islanders (1-3)

The Carolina Hurricanes can finish off the series Tuesday night. The banged-up Hurricanes (who are without Max Pacioretty, Andrei Svechnikov and Teuvo Teravainen) are finding enough offense to win, with Mackenzie MacEachern getting two points in Game 4 after he was recalled. The Islanders have one power-play goal in 12 attempts.

Winnipeg Jets (1-3)

They already were without No. 1 defenseman Josh Morrissey and forward Nikolaj Ehlers. Then leading goal scorer Mark Scheifele, who initially crashed hard into the boards, went to the dressing room after taking a shot on a power play and didn’t return. He’s day-to-day. The Jets kept it tight but lost 4-2. The Golden Knights can wrap up the series on Thursday at home.

New York Rangers (2-2)

The New Jersey Devils won both games at Madison Square Garden after switching to Akira Schmid in net and head home with a chance to take a lead in the series on Thursday. Schmid has stopped 57 of 59 shots. The Rangers’ power play has gone 0-for-8 over the last two games after Chris Kreider had scored four power-play goals in the first two games. Devils star Jack Hughes scored his third goal of the series Monday while Rangers stars Mika Zibanejad and Artemi Panarin have been held without a goal.

‘We didn’t show up,’ coach Gerard Gallant said of Monday’s 3-1 Devils win. ‘We didn’t play hard enough. We didn’t compete hard enough. All we did was yell at the linesman for getting thrown out of the faceoffs. A lot of bad things.’

Colorado Avalanche and Seattle Kraken (2-2)

Both teams will be missing key players when the series resumes Wednesday in Denver. Kraken 40-goal scorer Jared McCann is out for Game 5 and possibly beyond after being injured on a hit by Colorado’s Cale Makar well after he had taken a shot and the puck appeared to go over the glass. Makar, the Avalanche’s top defenseman and last year’s playoff MVP, has been suspended for a game for interference, the NHL announced Tuesday.

Florida Panthers (1-3)

The Boston Bruins can wrap up the series at home on Wednesday. That’s not unexpected after their record-setting season of 65 wins and 135 points. The Panthers tried Sergei Bobrovsky in net in Game 4 after Alex Lyon was pulled in Game 3, but Bobrovsky gave up five goals on 30 shots. Bruins captain Patrice Bergeron is scheduled to return to practice Tuesday and play in Game 5 if all goes well. 

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A 5-12 NFL team that has not made a first-round pick in the NFL draft since 2016 went all in on a draft hype video.

On Tuesday, the Los Angeles Rams published the video, which includes cameos from celebrities like actors Bryan Cranston and Aaron Paul of ‘Breaking Bad,’ comedian and actor Cheech Marin and DJ and music producer Diplo.

The video also features several Rams coaches and executives, including general manager Les Snead, coach Sean McVay and defensive coordinator Raheem Morris.

The video appears to include intentional overacting, with Snead delivering the line: ‘We need a new formula; it’s time to get back to the lab’ and Morris saying later: ‘We know what to do, and we know how to do it.’

Part of the irony with the video is that the Rams have been a team that has in recent seasons dismissed the value of draft capital by trading away picks in order to build a Super Bowl contender. The strategy worked, with Los Angeles winning Super Bowl 56 in February 2022.

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Spliced within the video is footage from the moments when notable Rams players like defensive tackle Aaron Donald, receiver Cooper Kupp and safety Jordan Fuller were drafted.

At one point, the video also takes a dig at some of Los Angeles’ rivals in the NFC West, as a barbecue is opened to reveal a pair of chickens being grilled, with the logos of the Cardinals and Seahawks — teams with fowl-themed mascots — serving as the heads of the browned chickens.

The video also includes cameos of the logos and products of a number of the team’s corporate sponsors.

No strangers to extravagance surrounding the NFL draft, the Rams conducted their operations for the 2022 NFL draft in a luxurious mansion in the Hollywood Hills.

The first round of the NFL draft is set for Thursday night at 8:00 p.m. ET.

What are the picks the Los Angeles Rams hold going into the 2023 NFL draft?

Because of a series of trades, this will mark yet another season that the Rams are not scheduled to pick in the first round. In fact, barring any trades into the first round, this will mark the seventh consecutive year that Los Angeles does not pick in the first round. The last time the Rams did make a first-round selection was 2016, when they held the first overall pick and took quarterback Jared Goff.

Round 2: No. 36 overall

Round 3: No. 69 overall

Round 3: No. 77 overall 

Round 5: No. 167 overall (compensatory)

Round 5: No. 171 overall (compensatory)

Round 5: No. 177 overall (compensatory)

Round 6: No. 182 overall

Round 6: No. 189 overall

Round 6: No. 191 overall 

Round 7: No. 223 overall

Round 7: No. 234 overall

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