On Thursday, the financial services firm, Goldman Sachs Group Inc. is scheduled to report its first-quarter results before the market opens.

Last month, Goldman Sachs has told that it would redeem the preferred shares held by billionaire Warren Buffet's Berkshire Hathaway Inc. for the stated redemption price of $110,000 per share, which will include accrued and unpaid dividends. The redemption includes a one-time preferred dividend of about $1.64 billion, which is expected to reduce the company's reported earnings for the first quarter by about $2.80 per share. It is felt that weak trading business and a charge for buying back preferred stock from Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) could impact the quarterly results heavily.

However, Credit Suisse believes that the first-quarter earnings for Goldman Sachs will represent a better than expected recovery, marked by healthy top-line trends that come above Street expectations. The brokerage expects a strong recovery in institutional client sales and trading revenues to lead first quarter results and offset more subdued investment banking activity.

Goldman has also been in news for past couple of weeks, when the U. S. Senate's Permanent Subcommittee on Investigations, released its findings of a two-year probe on the key causes of the financial crisis. At that time, the investment banks like Goldman Sachs deliberately took advantage at the expense of their clients and investors when it realized that the mortgage market was in decline.