Amazon loses appeal against $812.4 mln fine; shares rise after Fed decision

Amazon AMZN.O up ~1%, despite losing appeal against 746 mln euro ($812.4 million) fine by Luxembourg's privacy regulator

AMZN gain was in line with a rally on Wall Street, after the Federal Reserve kept rates unchanged

Luxembourg court dismissed AMZN's appeal, upholding the fine for breaching EU's General Data Protection Regulation rules

AMZN considering further appeal, claims fine based on subjective interpretations without prior guidance

AMZN stock down ~11% YTD, underperforming Nasdaq .IXIC which fell 8%

Stock recently traded at 29x expected earnings, below 5-year avg. forward PE of 56, according to data compiled by LSEG