Creating a CNAME record for any one of the domain names or subdomains that you've got within a hosting account will enable you to direct it to a different domain/subdomain. The forwarded domain name will lose all of its records - A, MX and so forth, and will take the records of the domain address it is being pointed to. In this light, you can't create a CNAME record to redirect your domain name to a third-party company and maintain a functional email service with the first hosting company. Also, it is essential to know that a CNAME record is always a string of words and never a number because it is regularly confused with the A record of the Internet domain being redirected. One of the major uses of a CNAME record is to forward a domain name which you own through one provider to the servers of some other company when you have set up an Internet site with the latter. By doing this, the Internet site will appear under your own domain name, not under some subdomain provided by the third-party company.