What is randys reaction to the reports about the fire?

Answer 1

He was shocked, curios and reflective. He was shocked that a greaser, or in this case a couple of greasers, would risk their lives for a bunch of kids. He was also curios as to why did they did it in the first place; knowing that some of the public will still seem them as dirt afterwards. He knows that if a couple of socs saved those kids people would not be so shocked, but since they are greasers...

And then he was reflective because he was wondering if he would have done the same thing that Ponyboy, Dally and Johnny did. He was wondering if he would have risked his life for those kids.