Setting up a CNAME record for any one of the domain addresses or subdomains you've got within a hosting account will enable you to direct it to a different domain/subdomain. The forwarded domain address will lose all its records - A, MX etc, and will take the records of the domain address it is being redirected to. In this light, you can't create a CNAME record to forward your domain name to a third-party company and retain a functional e-mail service with the first hosting provider. Additionally, it is important to note that a CNAME record is always a string of words and never a number as it's regularly confused with the A record of the domain address being redirected. One of the main uses of a CNAME record is to point a domain name which you own through one provider to the servers of another provider if you have created a 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.