Answer: The order increase forecast

## Explanation According to CFA Institute Standards of Professional Conduct, particularly Standard II(A) - Material Nonpublic Information: - **Option A (The order increase forecast)**: This information was already disclosed in a recent news release, making it public information. Lobo is permitted to use public information in his report. - **Option B (The estimated reduction in costs)**: This represents the CEO's personal opinion and forward-looking estimates that have not been publicly disclosed. Using such nonpublic information could violate Standard II(A). - **Option C (The planned international expansion)**: This is material nonpublic information about a potential acquisition that has not been announced. Using this information would violate Standard II(A) as it could constitute insider information. Therefore, Lobo is only permitted to use the order increase forecast that was already publicly disclosed in the news release.

Author: LeetQuiz Editorial Team