First Republic’s stock rises on rescue talks, Amazon shares fall on cloud forecast and other stocks on the move

Gainers: First Republic Bank’s stock FRC surged to highs of 8% premarket after news emerged that U.S. officials have entered talks with banks and private equity firms to rescue the struggling regional lender Reuters reported, citing sources.Gainers: First Republic Bank’s stock FRC surged to highs of 8% premarket after news emerged that U.S. officials have entered talks with banks and private equity firms to rescue the struggling regional lender Reuters reported, citing sources.

Shares in oil giant Exxon Mobil Corp. XOM were up almost 1% following its first-quarter report that showed it beat earnings expectations but posted a decline in revenue. Pinterest Inc.’s stock PINS dropped nearly 14% in premarket trading after it issued a weak forecast despite reporting better-than-expected earnings late Thursday.

Shares in Snapchat parent Snap Inc. SNAP tumbled 18% after it missed Wall Street revenue expectations.

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Amazon set to report first-quarter earnings after the bellAmazon CEO Andy Jassy has been aggressively slashing costs through layoffs, a corporate hiring freeze and by ending some experimental projects.
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