Rick Perry drops out of campaign, endorses Newt Gingrich - UPDATE

The Texas governor has been reported out before.

UPDATE: Rick Perry did indeed this morning drop out of the race for the Republican presidential nomination and he did endorse Newt Gingrich.

INITIAL POST: We've seen this before -- check out the stories just after the Iowa caucuses -- but CNN, citing sources, is reporting that Rick Perry today will drop out of the Republican primary race.

The Associated Press at 9:33 this morning said it has confirmed the report. Perry will endorse Newt Gingrich, AP reports.

CNN says there is an 11 a.m. news conference scheduled.

We'll update you if the candidate makes an announcement.