The Giants signed Houser to a two-year, $22 million contract with a club option for 2028 on Tuesday, Jeff Passan of ESPN.com reports.

Houser showed more velocity and put together a bounce-back season in 2025, collecting a 3.31 ERA and 92:38 K:BB over 125 innings covering 21 starts between the White Sox and Rays. The veteran right-hander will turn 33 in February and lands in a favorable home environment in Oracle Park, but Houser's fantasy value will remain limited because of a lack of strikeouts.

Bido was designated for assignment by Atlanta on Monday.

Bido will lose out on his 40-man roster spot after the club agreed to a one-year deal with Ha-Seong Kim. Bido was claimed off waivers by Atlanta just over a week ago and will now head back to the waiver wire following Monday's transaction.

The Nationals acquired Perales from the Red Sox on Monday in exchange for Jake Bennett, Jeff Passan of ESPN.com reports.

It's a prospect-for-prospect trade. Perales missed a large chunk of 2024 and nearly all of 2025 while recovering from Tommy John surgery, but he's wowed with his stuff since returning, regularly reaching triple digits with his fastball. The 22-year-old has thrown a total of 9.2 innings beyond A-ball and has a career 12.3 percent walk rate in the minors, but Perales' upside is huge.

Darvish (elbow) said Monday that he's unsure whether he will continue his baseball career after completing rehab for his November UCL repair with an internal brace and flexor tendon surgery, Dennis Lin of The Athletic reports.

Darvish will miss the entire 2026 season and will be 40 years old heading into the 2027 campaign. He's owed $30 million between 2027 and 2028, so while he has financial incentive to continue pitching, the right-hander is currently focused on his rehab and will make a decision about his playing career at a later date. Darvish posted a 5.38 ERA and 68:19 K:BB over 72 regular-season innings covering 15 starts for the Padres in 2025.

Kelly agreed to a two-year, $40 million contract with the Diamondbacks on Sunday, Ken Rosenthal of The Athletic reports.

The 37-year-old right-hander was dealt by the Diamondbacks to the Rangers at the trade deadline in July, and he'll now return to the desert for an eighth season. Kelly should step back in as Arizona's ace after posting a 3.52 ERA, 1.11 WHIP and 167:48 K:BB across 184 innings last season.

May signed a one-year contract with the Cardinals on Saturday that includes a mutual option for 2027, Jeff Passan of ESPN.com reports.

May set a new career high with 132.1 innings pitched between the Dodgers and Red Sox in 2025, though his 4.96 ERA and 1.42 WHIP in the regular season both marked significant regression from previous years. Despite his recent struggles, the 28-year-old righty should have little trouble claiming a spot in a Cardinals rotation that doesn't feature much depth following the departure of Sonny Gray.

Frasso (undisclosed) signed a minor-league contract with the Dodgers on Saturday, Aram Leighton of JustBaseball.com reports.

After turning in a 5.49 ERA and 1.58 WHIP over 77 innings at Triple-A Oklahoma City this past season and being non-tendered by the Dodgers in November, Frasso will officially return to the organization for 2026. The 27-year-old is still waiting on his first promotion to the majors, but he will likely need to show significant improvement in the minors before getting called up for his MLB debut.

The Nationals and Gray (elbow) avoided arbitration by agreeing to a one-year, $1.35 million contract Friday, Andrew Golden of The Washington Post reports.

Gray was limited to three rehab starts this season as he returned from UCL surgery and will receive the same salary he got in 2025. The right-hander is expected to be ready to go at the start of spring training, though he will likely face workload restrictions in 2026 after throwing a combined 35 innings over the previous two seasons.

Cubs manager Craig Counsell confirmed this week that Steele (elbow) will not be ready for the start of next season, Patrick Mooney and Sahadev Sharma of The Athletic report.

Steele underwent UCL revision surgery on his left elbow in mid-April, so it's not a surprise that he'll be in line for a stint on the injured list to begin the 2026 season. Counsell noted that the team will have a better idea as to a timetable for the left-hander in spring training, with the skipper noting that "I think it will be the first half of the season." Steele has collected a 3.18 ERA over 82 regular-season starts since the beginning of the 2022 campaign.

The Phillies selected McCambley with the 12th pick of the Rule 5 Draft on Wednesday.

A third-round pick in 2020, McCambley spent the first five-plus years of his pro career in the Marlins organization. He reached Triple-A for the first time in 2025 as a reliever, logging a 3.32 ERA, 1.18 WHIP and 52:15 K:BB in 40.2 innings across 36 appearances. His stuff isn't quite as good as his 2025 results might indicate, but he has a quality slider and cutter to help offset the fact his fastball sits in the 93-95 mph range with poor movement.