The Collaborative International Dictionary of English v.0.48:

Lob \Lob\, v. t. [imp. & p. p. Lobbed (l[o^]bd); p. pr. & vb.
   n. Lobbing.]
   2. To let fall heavily or lazily.
      [1913 Webster]

            And their poor jades
            Lob down their heads.                 --Shak.
      [1913 Webster]

   2. to propel (relatively slowly) in a high arcing trajectory;
      as, to lob a grenade at the enemy.
      [PJC]

   To lob a ball (Lawn Tennis), to strike a ball so as to send
      it up into the air.
      [1913 Webster]