Setting up a CNAME record for any one of the domains or subdomains that you have in 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 Internet domain it's being forwarded to. In this light, you can't create a CNAME record to point your domain to a third-party company and retain a functional email service with the first hosting company. It's also very important to know that a CNAME record is always a string of words rather than a number because it is regularly confused with the A record of the domain being forwarded. One of the main uses of a CNAME record is to point a domain which you own through one provider to the servers of some other company when you have created a website with the latter. This way, the site will appear under your own domain address, not under some subdomain provided by the third-party company.