The guests missed a late penalty when Lucas Joao’s shot flew past Daniel Iversen’s goal and Lilywhites boss Alex Neil claimed that losing would have been an unfair outcome for his side had the effort gone, insisting: “I don’t think Reading would have deserved the win if they had scored the penalty. I would have been extremely frustrated if it had been a decisive goal.” Next, the Lilywhites will face Sheffield on Saturday afternoon and will try to score three points against the managerless Owls, Preston have beaten in their last three games on Wednesday and are hoping to extend their run against a team currently in the relegation zone. Meanwhile, the January transfer window is starting to pick up and it will be fascinating to see if Preston can strengthen his ranks with more signings before the end of the month after bringing in Jayson Molumby, Ched Evans and Daniel Iversen. Here’s our round-up of the latest news and transfer talk from the second tier, including Preston North End and a number of their rivals in the division:

Coventry City is approaching a move for young Josh Reid of Ross County. The teenage sensation is slated to sign up for a six-figure fee before returning on loan to the Staggies for the remainder of the 2020-21 campaign. (Coventry Telegraph)

Photo: Mark Runnacles

Newcastle United have been linked with a move for Bournemouth’s Philip Billing. A deal could potentially be struck where the Danish ace arrives at St. James’ Park and winger Matt Ritchie moves to the Cherries. (HITC)

Photo: Warren Little

West Ham has been named bookies’ favorite to sign Bournemouth ace Josh King as rumors continue to link the Norwegian international to an exit this month. He’s also on the radar of Everton and Burnley. (Sky Bet)

Photo: Naomi Baker

Stoke City defender Nathan Collins has emerged as a target for Premier League teams Burnley and Arsenal. The 19-year-old, who has made 16 league starts for the Potters so far this season, could be sold for around £ 10million. (Metro)

Photo: George Wood