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AP sources: Perry abandoning bid, backing Gingrich

Rick Perry Drops Out of Presidential Race, Backs Gingrich

Texas Gov. Rick Perry on Thursday dropped out of the race for the Republican presidential nomination and endorsed Newt Gingrich, adding a fresh layer of unpredictability to the campaign two days before the South Carolina primary.

Senh: The number of Republican candidates are dropping out and picking sides now. Newt Gingrich and Rick Perry are a good fit, although they have the same voter overlap. If Newt has any real chance, he needs to draw people outside of his ultra conservative group.

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Perry loses key SC backer after attack on Romney

Presidential candidate Rick Perry's criticism of Mitt Romney's business past had a boomerang effect Thursday, costing him the support of a prominent Republican in South Carolina. Investment fund executive and top GOP donor Barry Wynn told The Associated Press he was leaving the Perry fold to endorse Romney, the former Massachusetts governor. Wynn said Perry's attacks on Romney's time at the helm of the private equity firm Bain Capital had crossed the line in a political party that values free-market capitalism.

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