When I tried to connect a URL (one of vendors URL which supports TLS 1.2 and worked fine previously with Java 7) by using Java 7, I found bellow Exception:
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If you test the URL with SSLLabs, the website allow 4 ciphers :
TLS_ECDHE_RSA_WITH_AES_128_CBC_SHA256 TLS_ECDHE_RSA_WITH_AES_128_GCM_SHA256 TLS_ECDHE_RSA_WITH_AES_256_CBC_SHA384 TLS_ECDHE_RSA_WITH_AES_256_GCM_SHA384
But if you read ciphers list for Java 7, no cipher is not supported (can be seen in the debug message also). Even by enabling TLS 1.2 for Java 7, I think it doesn't find any valid ciphers. The site had to change its configuration.