I'm looking to buy a point and shoot camera. My budget is about 400 dollars. Any recommendations? 

http://www.42photo.com/pd-productid-105622-k-canon_eos_rebel_digital_t3_122_mp_camera_w_18_55mm_is_ii_lens.htm

Why settle for a point and shoot when you can buy this decent dslr in the same budget!!

 Thank you but I wish something that can be carried around in your pocket. Nothing 'bulky'. I must add, I'd also like one with good zoom so that I could take pictures of players if/when I go to Baseball/NBA games. 

 *I want 

carrying in your pocket and being able to zoom enough to take pictures of players in a game don't go well together unless you're looking for those 12X optical zoom cameras. if you want a better zoom, go for one of the bridge cameras with 18X or more optical zoom. You'll find these bridge cameras with upto 34x optical zoom, maybe even more. Now, they're not going to fit in your pocket but they're still light and easy to carry around, and most importantly - versatile. 

canon sx40, and sx30 series are pretty good bang for the buck. you might also want to look at panasonic lumix fz-40, fz-100, or fz-150. fujifilm is also launching some okay bridge cameras. check the reviews and decide what you want.

 These two cams are the best ones in the for around 500 to 600 price range for compact cams. They are little higher than your price range but am sure pictures they make makes up for the price they have.
Fujifilm X10:
www.bhphotovideo.com/c/product/817840-REG/Fujifilm_16190089_X10_Digital_Camera_Black.html

Panasonic DMC Lx-7
www.bhphotovideo.com/c/search

 the best point and shoot so far is canon s100