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Amdocs (DOX), which handles billing services for telecom companies, is reportedly cutting jobs, including 200 in Israel. That’s according to Globes, the Israeli business newspaper. The story said the layoffs amount to about 3% of the company’s workforce.

Amdocs today is down 34 cents, or 1.6%, to $20.66.

Filed under: International markets, China, Brazil, Stocks to Buy, Financial Crisis

Q. Vahan, although you primarily recommend US equities, your newsletter also includes a few international picks, such as American Oriental Bioengineering (NYSE: AOB) and Embraer (NYSE: ERJ). What factors made you choose these companies?

Oft-heard rumors of a break-up of stock-options-fraud poster child and telecom software provider Comverse Technology (CMVT.PK) are back in the news today — specifically, in the Israeli newspaper Globes, according to a note out this morning by Friedman, Billings, Ramsey analyst Daniel Ives. Those breakup anticipations have consistently been put aside amid turmoil in Comverse’s books, from the stock-options scandal of its former CEO, Kobi Alexander (he fled prosecution in Namibia) to accounting irregularities in its revenue recognition.

Israeli CRM and billing systems company Amdocs (DOX) has bested analyst estimates and come through with a record quarter. The company reported record revenue of $820 million in Q2, up 15% over Q2 ‘07, solidly beating the consensus estimate of $811.06 million. Non-GAAP net profit grew 9.9% to $132.5 million, or $0.61 per share, above the analysts’ consensus of $0.60. In addition, Amdocs raised Q3 guidance as well.