CNBC's Jim Cramer didn't want to be so quick as to write off Thursday's rally to the House of Representatives passing its first iteration of tax reform.
Instead, the "Mad Money" host argued that much of the rally resulted from the performance of two stocks, Cisco and Wal-Mart, "which pleasantly surprised us with their numbers. These are both turnaround stories, people. Nothing proves the worth of a CEO like executing a turnaround."
One company that Cramer said could be in the midst of its turnaround is IBM. IBM's latest quarter was embraced by the market as the last quarter with weak revenue growth, giving Cramer some faith in the company.
"Will it lead to a turn in the stock? Well, that's a different story," Cramer said. "Why? Warren Buffett, once IBM's largest shareholder, seems to be dumping stock at an aggressive pace. We saw he sold a third of his position in the last quarter. But you're being paid to wait here with a 4 percent yield as CEO Ginni Rometty hopefully completes her reinvention of the company as a fast-growing cloud and data analytics business. You know what? It feels a lot like Cisco before this quarter."