US STOCKS-Futures up as weak earnings worries fade

* Futures up: Dow 49 pts, S&P 7 pts, Nasdaq 16 pts

By Tanya Agrawal

April 21 (Reuters) - U.S. stock index futures rose on Tuesday after earnings results by companies including IBM (Swiss: IBM.SW - news) helped ease fears of a disappointing earnings quarter.

* IBM (NYSE: IBM - news) shares were up 0.7 percent at $167.25 in premarket trading after its earnings exceeded low expectations on Monday as it shed unprofitable businesses to focus on cloud-computing.

* Chemical conglomerate DuPont shares fell 1.6 percent after it said a stronger dollar would eat into its full-year operating profit, but reported a better-than-expected profit as cost cuts propped up margins in some businesses.

* Mylan (Berlin: 6MY.BE - news) was up 8.8 percent at $74 after Bloomberg reported that Israeli drugmaker Teva is preparing an unsolicited offer for the company in what could be the drug industry's largest takeover attempt this year.

* Earnings expected Tuesday include Verizon Communications (Xetra: 868402 - news) and Omnicom before the markets open and Chipotle , Yahoo (NasdaqGS: YHOO - news) and Yum Brands after the close.

* Hedge fund manager David Einhorn's Greenlight Capital has taken a new stake in General Motors Co, nearly a year after selling off it position in the automaker, the firm said in a letter to clients on Monday.

Futures snapshot at 7:07 a.m. EDT (1107 GMT):

* S&P 500 e-minis were up 7 points, or 0.33 percent, with 132,800 contracts changing hands.

* Nasdaq 100 e-minis were up 16 points, or 0.36 percent, in volume of 23,939 contracts.

* Dow e-minis were up 49 points, or 0.27 percent, with 26,455 contracts changing hands. (Reporting by Tanya Agrawal; Editing by Savio D'Souza)