stock activities

Summertime settled into Wall Street on Friday as major stock indexes drifted slightly higher going into the weekend.

Banks and other financial firms tugged the stock market slightly lower Thursday as a mixed batch of economic reports and earnings results gave investors little reason to push the market up.

Sinclair Broadcast Group Inc. offered to restructure the nearly $1 billion planned acquisition of seven ABC affiliates and a Washington-based cable news network, changes it says will satisfy cross-ownership concerns recently raised by the Federal Communications Commission. It also announced that its board approved spending $150 million more to repurchase shares.

The banner year for the stock market brought good news to Baltimore money management firms, with leaders pointing to a rising tide that buoyed their funds and their companies' prospects.

As Jos. A. Bank Clothiers prepares to announce year-end and quarterly results this week, Zacks Investment Research has downgraded the retailer's stock to a strong sell rating, citing the company's January warning that fiscal year profit will be off 20 percent.

The New York investment firm that wants to invest in struggling First Mariner Bancorp said Thursday it was still committed to the deal that would provide much-needed capital for the Baltimore bank.

First Mariner Bancorp's stock has been delisted from Nasdaq Capital Market and shares will begin trading on the Over The Counter Bulletin Board starting Thursday, the Baltimore company said Wednesday.