Walmart Inc. (WMT) shares rose more than 2% on Monday after the company settled its long-running lawsuit with Michigan’s retirement fund for $160 million and partnered with Blue Apron Holdings, Inc. (APRN) on its newly launched Jet City Grocery business. The lawsuit with the City of Pontiac General Employee’s Retirement System accused Walmart of defrauding shareholders by covering up suspected bribes with an expansion in Mexico. The news of the lawsuit initially erased more than $10 billion from Walmart’s market capitalization back in 2012. The $160 million settlement erases a lot of that concern.

Jet’s new online grocery service will cater to New York City residents that opt to receive same-day or next-day deliveries. Under the new agreement, Blue…