Setting up a CNAME record for any one of the domains or subdomains you've got within a hosting account will enable you to point it to a different domain/subdomain. The forwarded domain will lose all of its records - A, MX and so forth, and will take the records of the domain it is being pointed to. In this light, you cannot create a CNAME record to redirect your domain to a third-party company and keep a functional email service with the first hosting company. It is also important to note that a CNAME record is always a string of words rather than a number as it is frequently confused with the A record of the Internet domain being forwarded. One of the main uses of a CNAME record is to point a domain you own through one company to the servers of another company if you have set up an Internet site with the latter. That way, the website will appear under your own domain address, not under some subdomain provided by the third-party company.