There's quite a bit happening here for all sides.
The Cavaliers will entertain other offers prior to Thursday's 3 p.m. deadline, but they traded Hood and Burks, which were the two players most-likely to be dealt.
Rockets star James Harden is also excited to have Shumpert on the team because of his ability to play all over the court.
Knight and Chriss were acquired by Houston in the Ryan Anderson salary dump over the offseason. After trading Kyle Korver to the Utah Jazz for Burks and a pair of second-round picks in late November, they've now flipped Burks for a first-round pick. They also save about $6.1 million in tax payments this season and get off the $15.6 million Knight is owed next season.
The Cavaliers continue to stack up draft picks.
In the case of Chriss, he's an expiring contract who will be a free agent this summer but will have an opportunity to show his worth while playing on the clearly rebuilding Cavaliers.
Shumpert is averaging 8.9 points per game this season while shooting 38.2 percent from the field and 36.6 percent from the 3-point line.
While Shumpert is expected to have more of an off-the-bench role with the Rockets, players like Chris Paul are excited to have him on the roster as he adds some much-needed depth for a playoff push.