Creating a CNAME record for any of the domain addresses or subdomains you've got within a hosting account will permit you to redirect it to a different domain/subdomain. The forwarded domain will lose all its records - A, MX and so forth, and will take the records of the domain address it's being redirected to. In this light, you can't set up a CNAME record to forward your domain name to a third-party company and keep 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 often mistaken for the A record of the Internet domain being forwarded. One of the main uses of a CNAME record is to forward a domain you own through one company to the servers of some other company when you have created a website with the latter. This way, the Internet site will appear under your own domain, not under some subdomain provided by the third-party provider.