by Calculated Risk on 4/13/2009 04:29:00 PM

From MarketWatch: Goldman Sachs swings to profit, plans $5 billion offering

Goldman Sachs Group Inc. said Monday it swung to a profit in the first-quarter, and announced it has commenced a public offering of $5 billion of its common stock. Goldman Sachs said net earnings for the period ended in March were $1.8 billion ... compared to a loss of $2.1 billion ... in the same period a year earlier.

The $5 billion will be used to repay the TARP money Goldman received last year.