A press conference is scheduled for 5 pm as there are reports that authorities may have identified a suspect in the Boston Marathon bombings.

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Update 2:50 pm - Officials now saying that there have no arrests been made. Authorities say that they have made significant progress in identifying a possible suspect. CNN says there are conflicting reports regarding the arrest.

Update 1:48 pm - CNN now says that an arrest has been made based on the videos obtained by the police and FBI.

The indentification has been made from surveillance video from the camera at Lord and Taylor, according to reports, and includes a suspect "carrying and perhaps dropping a bag" at the second bombing scene.

The third casualty of the attack has also been named as Boston University student Lingzu Lu. She has been identified by school authorities.

[CNN]