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Qualcomm Inc (QCOM) lost an appeal Monday in its battle against a $665,000 daily fine from European Union antitrust regulators, Reuters reported.

The chipmaker was accused of using anticompetitive strategies to squeeze British software maker Icera out of the market. Qualcomm asked the EU's Luxembourg-based General Court to suspend the order last month.

Qualcomm said the competition authority's demands would cost no less than 3 million euros, but Court President Marc Jaeger said Qualcomm didn't "give any explanation as to why it would be impossible to seek compensation for the alleged financial costs it would suffer by answering the questions."

Qualcomm stock traded slightly down after the market's open.

What's Hot on TheStreet

Amazon wants to upend every business, or so it seems: New day, a new business Amazon (AMZN) wants to dip its toes in. The latest looks to be the meal kit space, TheStreet reports.

In a July 6 trademark application, Amazon subsidiary Amazon Technologies Inc. revealed it's planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and [sic] vegetables...ready for cooking and assembly as a meal," as well as primarily grain-based offerings.

The product's tagline: "We do the prep. You be the chef." Amazon already sells other companies' meal kits, including Tyson Foods Inc.'s (TSN) Tyson Tastemakers. Martha Stewart is even offering meal kits on Amazon Fresh, the company's grocery delivery service. But, this may be the first hint of something bigger for Amazon, which would put it in direct competition with newly minted IPO Blue Apron (APRN) .

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Qualcomm Loses Appeal Against European Union $665000 Daily Fine - TheStreet.com