Let me know if it works ..I am not sure why your command is not working. I also checked but facing same problem for your command. But try find command to get it done.
As MadeInGermany pointed out, cp is failing because xargs calls it with multiple arguments and the final argument is not a directory.
Further, if the use of fgrep is intended to select files that end with a .deb extension, then it is incorrect. That fgrep will match filenames with a .deb embedded at any spot. The correct filter would be grep '\.deb$' , which anchors the pattern to the end of the name.
A minor nit: you don't need to use -1 with ls when writing to a pipe. ls detects the situation automatically.
One possible, portable approach:
ls | sed '/\.deb$/!d; /jdownloader/d' | pax -rw /media/eshant/L-STORE/Softwares/openjdk/