Setting up a CNAME record for each of the domain addresses or subdomains that you have in the hosting account will enable you to direct it to a different domain/subdomain. The forwarded domain name will lose all its records - A, MX and so forth, and will take the records of the domain name it's being directed to. In this light, you can't create a CNAME record to forward your domain name to a third-party company and retain a working email service with the first hosting company. Also, it is very important to know that a CNAME record is always a string of words and never a number as it is generally mistaken for the A record of the domain name being redirected. One of the major uses of a CNAME record is to point a domain name you own through one provider to the servers of some other company when you have created a website with the latter. That way, the website will appear under your own domain address, not under some subdomain provided by the third-party provider.