Ask The Fool The 8-K report Q: What's an 8-K report? A: The Securities and Exchange Commission (SEC) requires companies to file 8-Ks whenever...

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Ask The Fool

The 8-K report

Q: What’s an 8-K report?

A: The Securities and Exchange Commission (SEC) requires companies to file 8-Ks whenever special events have occurred since the last annual comprehensive 10-K report was filed.

The kinds of happenings that necessitate 8-K reports are those that have a significant impact on a firm’s performance or financial health, such as mergers, layoffs, plant closings and court awards or penalties.

To see if any 8-Ks have been filed lately for a company you’re following, look up its SEC filings at www.sec.gov/edgar/searchedgar/webusers.htm.

The Motley Fool take

Stock pick: Vail Resorts

Perk up your ears, snow bunnies. Vail Resorts (NYSE: MTN) has come to own some of the choicest ski resorts in the United States, including Vail, Beaver Creek, Breckenridge and Keystone.

These ownership positions provide Vail with a very impressive economic moat.

The company also complements its ski resorts with the development and management of hotels, resorts and private residences, making Vail’s quarterly fluctuations less of a concern.

Vail’s latest quarterly results featured total sales up almost 15 percent, but earnings below expectations.

Still, that’s somewhat understandable given that food and energy inflation leave fewer discretionary dollars for consumers to spend on ski vacations.

CEO Robert Katz proclaimed his excitement for strong ski-pass sales results and the introduction of the Epic Season Pass to allow “skiing at all five of our resorts for the entire season.”

There are also real-estate developments in the works, as Vail looks to diversify from its winter-destination heritage.

After a recent stock slide, Vail’s stock could be had for less than 20 times this year’s earnings projections.

That’s not yet a steal, given the more challenging economic climate right now, but keep an eye out for a further pullback, as Vail Resorts offers a unique collection of properties for the vacation-minded. Perhaps add the company to your watch list.

Visit www.fool.com or write The Fool, c/o The Seattle Times, P.O. Box 70, Seattle, WA 98111.