* Boeing jumps after upbeat results, profit raise
* Comcast shares drop after $31 bln offer for Sky
* Twitter busiest stock following second profitable quarter
* Futures: Dow up 10 pts, S&P off 7.25 pts, Nasdaq off 10.75 pts (Adds details, updates prices)
By Sruthi Shankar
April 25 (Reuters) - Dow Jones Industrial Average futures erased losses on Wednesday after Boeing reported strong results and forecast, but concerns about rising U.S. bond yields and corporate costs continued to weigh on U.S. stocks.
Boeing, the world's biggest planemaker, rose 2.1 percent after it reported a higher-than-expected quarterly profit and raised its full-year forecast for earnings and cash flow.
The blue-chip Dow was on track to open 16 points higher, while the S&P 500 and the Nasdaq were on track for slight losses.
The yield on 10-year U.S. Treasury notes, the benchmark for global interest rates, held above 3 percent after crossing the level for the first time in four years on Tuesday, stoking concerns about higher borrowing rates for companies.
Alphabet's shares fell after the company said it expected a surge in costs on Monday, while Caterpillar noted first-quarter earnings would be the "high water mark" for the year and warned of higher material costs.
Investors are watchful about other companies raising such warnings, as inflation is picking up and the Federal Reserve is in no mood to put the brakes on its own rate-hike program.
"The markets are reacting to yields moving higher," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. "The new trading range will continue to cap equities from positively responding to good earnings news."
Reuters data shows that analysts are now estimating 21.1 percent profit growth in the first quarter among the S&P 500 companies, compared with 18.6 percent growth rate at the start of the earnings season.
At 8:41 a.m. ET, Dow e-minis were up 10 points, or 0.04 percent, with 53,518 contracts changing hands. S&P 500 e-minis were down 7.25 points, or 0.28 percent, with 203,956 contracts traded. Nasdaq 100 e-minis were down 10.75 points, or 0.16 percent, on volume of 71,813 contracts.
The CBOE Volatility index, a gauge of short-term stock market volatility jumped to more than 1-week high to 18.56 points.
Comcast fell 1.9 percent after the U.S. cable company submitted a $31 billion offer for pay-TV group Sky , challenging an already agreed but lower takeover bid from Rupert Murdoch's Fox.
Viacom rose 1.23 percent after the media company reported better-than-expected quarterly results.
Twitter jumped 4.2 percent after reporting its second profitable quarter and topping Wall Street estimates for revenue and monthly active users.
Facebook which is set to report after market closes on Wednesday, was edged up 0.5 percent. (Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)