Creating a CNAME record for any one of the domain addresses or subdomains you've got in the hosting account will allow you to direct it to a different domain/subdomain. The forwarded domain name will lose all its records - A, MX etc, and will take the records of the Internet domain it is being pointed to. In this light, you cannot set up a CNAME record to redirect your domain to a third-party company and retain a working email service with the first hosting provider. It is also essential to know that a CNAME record is always a string of words and not a number as it's frequently confused with the A record of the domain address being forwarded. One of the major uses of a CNAME record is to forward a domain which you own through one provider to the servers of another provider when you have created an Internet site with the latter. In this way, the Internet site will appear under your own domain address, not under some subdomain provided by the third-party company.