So, you want a camera that has image stabilization, handles snow, great image quality, and performs close to a DSLR with noise and sports shots(because those and a few pricier point and shoots can do decent with noise) for $150?
At $150, the most you can hope for is a camera that is not incredibly slow and takes decent photos. Here's a good price for a camera that is compact and takes pretty good photos.
http://www.amazon.com/Canon-PowerShot-SD1200IS-Stabilized-2-5-inch/dp/B001SER48S/ref=sr_1_2?ie=UTF8&s=photo&qid=1260784589&sr=1-2
My son does a lot of snowboarding and needs to take some quality photos for his sponsors.
My budget is 150 bucks. I know this won't get me a very nice camera but what is the best I can get??
I know him and his friends sometimes take photos at night but what i really need is something that won't have a lot of digital noise and can take somewhat decent action shots fast with good quality. With digital stabilization and other features like that.
Thanks so much for your help!!

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic