Lindblom, 25, has pitched in the majors the last two seasons for the Los Angeles Dodgers and Philadelphia Phillies, albeit in a relief role. Over 101 major league games, he has a 3.31 ERA with an 8.8 K/9. He has had some control issues, leading to troubles giving up walks and home runs.
In the minors, Lindblom has moved back and forth between starting and relieving. This season, he has started seven of his eight games and has pitched well with a 2.08 ERA and 0.877 WHIP.
Lowe, 39, was designated to make room on the 40-man roster for Lindblom. The veteran signed as a free agent with the Rangers in the offseason, but has not been impressive pitching in a relatively unfamiliar relief role. Over 13 innings appearances, Lowe allowed 13 earned runs. He clearly did not show enough to make the Rangers think that he could help the team moving forward.
Lowe has had an ERA of over 5.00 each of the last two seasons. In 2012, he signed with the New York Yankees mid-season after being released by the Cleveland Indians. The Yankees moved him to the bullpen full time, and he seemed to regain a spark with a 3.03 ERA over 17 relief appearances.
It would be unsurprising if this were the last time Lowe pitches in the majors. His advanced age and increasing ineffectiveness makes it unlikely another team will take a flier on him.