Shares of Frontier Communications (FTR) took a hit, falling sharply in Wednesday's trading session after its latest earnings miss, making it TheStreet's Move of the Day. The telephone company finished the day as the worst performer on the S&P 500 following its first quarter earnings miss. The company reported lower than expected earnings and revenue for the period. Frontier also reaffirmed its 2015 guidance, saying it now expects capital spending of between $650 to $700 million for the full year. The range is lower compared to the $722.93 million analysts are expecting. Shares finished the regular session down on more than four times its normal trading volume. TheStreet's Kurumi Fukushima reports in New York.