Creating a CNAME record for any one of the domains or subdomains that you have within a hosting account will allow you to point it to a different domain/subdomain. The forwarded domain will lose all its records - A, MX and so on, and will take the records of the domain name it is being pointed to. In this light, you can't create a CNAME record to direct your domain to a third-party company and retain 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 commonly mistaken for the A record of the domain address being forwarded. One of the main uses of a CNAME record is to forward a domain name which you own through one provider to the servers of another company in case you have created an Internet site with the latter. In this way, the website will appear under your own domain address, not under some subdomain provided by the third-party company.