Google takes on Uber, Lyft; DOJ sends subpoena to Lending Club; Pandora pressured to sell

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Alphabet (GOOGL) – The tech giant’s navigation app, Waze, announced a new carpool service in San Francisco. The new service is currently only available by invitation to approximately 25,000 workers in the Bay Area.

Lending Club (LC) – The online lender has received a subpoena from the Justice Department. The company disclosed the subpoena in a regulatory filing and says it plans to cooperate with the federal investigation. Last week, Lending Club announced that its founder and CEO Renaud Laplanche resigned following an internal probe concerning $22 million in improper loan sales.

Pandora Media (P) – The music streaming company is coming under pressure by an investor. Hedge fund Corvex Management, which disclosed a 9.9% stake in the company, is urging it to explore a sale.

Office Depot (ODP) – The retailer is focusing on its next move after its takeover by Staples was called off last week due to antitrust concerns. Office Depot is now considering a possible sale of some of its European operations.

Home Depot (HD) – The home improvement chain reported a strong start to the year, with sales at existing stores rising 6.5% in the quarter. Shoppers spent an average of just over $60 per shopping trip, the highest level since 2006.