On September 8, Eaton Corp PLC rose 3.44% in pre-market trading, trading at $425.0 per share, with turnover of $810,300. The rally extends gains driven by the company's announcement of a $242 million investment to build a new one-million-square-foot manufacturing facility in North Little Rock, Arkansas.

The new plant is expected to double Eaton's US manufacturing capacity for customized electrical enclosures and create over 1,200 jobs. The investment targets surging demand from data centers, utilities, industrial, and digital communications markets. In Q2, data center sales jumped 65% year-over-year, supported by a $15 billion backlog in North American electrical operations and 85% growth in data center orders. Q2 adjusted EPS of $3.15 beat the $3.07 consensus, while revenue of $8.53 billion topped the $8.16 billion estimate, prompting the company to raise full-year EPS guidance to $13.40-$13.60. Multiple analysts have recently lifted price targets, with Morgan Stanley at $520 and Argus at $528, both maintaining bullish ratings.

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