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Reports: Perry to Drop Out Today

Rick Perry has told his backers that he will drop out of the Republican presidential race, two sources tell CNN. He's expected to endorse Newt Gingrich, according to Politico. The Perry campaign has driven away donors and public support as it spends millions of dollars. Dismal crowds turned out Thursday to hear the candidate speak in South Carolina. Just days ahead of the South Carolina primary, only 6 percent of Republicans in the state are fond of Perry. "It's over. It's long over. Sometimes things are finished before they're over. It's embarassing to come out of the gate and get shot but it happens," one fundraiser told ABC News. "You'd think a guy who had 11 years in office, that he'd prepare, he'd read the paper and get prepared." Perry is expected to announce his departure from the campaign at a press conference at 11 a.m. Though it's been reported that Perry will endorse Newt Gingrich for the Republican nomination, the Santorum campaign is also currently gunning for Perry's support.