KeyBanc's Ramnani offered a preview of IBM 4Q17 earnings in a note earlier in the week. He said he was "optimistic" going into the IBM 4Q17 earnings release, even after IBM stock has outperformed the S&P 500 since the third-quarter release. He said consensus is looking for IBM 4Q17 earnings to come in at $5.16 per share on a non-GAAP basis and $22.07 billion in sales.