Time Magazine’s Mark Halperin is reporting that Mitt Romney is quitting the race for President, perhaps as early as today.
Update: CNN is confirming the report:
(CNN) — Former Massachusetts Gov. Mitt Romney will suspend his bid for the Republican presidential nomination, GOP sources tell CNN.
A candidate may “suspend” his or her campaign rather than dropping out, and technically remain a candidate. In this case, he or she is entitled to keep any statewide pledged delegates as well as their district-level delegates.
Candidates who officially drop out must forfeit statewide delegates
This is the same thing John Edwards did last week, and it’s the same as quitting.
Fred Thompson only suspended his campaign also and did not give up his delegates.