Setting up a CNAME record for any of the domain names or subdomains that you have in the hosting account will allow you to direct 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's being forwarded to. In this light, you simply can't create a CNAME record to redirect your domain name to a third-party company and maintain 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 generally confused with the A record of the domain being redirected. One of the primary uses of a CNAME record is to point a domain you own through one provider to the servers of some other provider assuming you have created a website with the latter. In this way, the Internet site will appear under your own domain, not under some subdomain provided by the third-party company.