Creating a CNAME record for any one of the domain addresses or subdomains that you have within a hosting account allows 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 domain name it is being directed to. In this light, you can't set up a CNAME record to point your domain to a third-party company and retain a functional email service with the first hosting provider. It is also essential to know that a CNAME record is always a string of words and not a number because it is generally confused with the A record of the Internet domain being redirected. One of the major uses of a CNAME record is to direct a domain you own through one company to the servers of another company when you have set up a website with the latter. In this way, the site will appear under your own domain name, not under some subdomain provided by the third-party company.